GAIL (India) Ltd is close to finalising a long-term liquefied natural gas (LNG) import deal with Qatar to buy at least 1 million metric tons per year, potentially for more than 20 years, three industry and trade sources said.
with the German unit of Russia's Gazprom were hit when it was taken over by Berlin, which diverted volumes to its own market.of long term sales contracts this year as it expands market share globally at the expense of Russia.
, part owned by GAIL, is also negotiating an extension to beyond 2028 of its long-term LNG deal, under which Qatar supplies 8.5 million tons per year of LNG. GAIL plans to buy an additional 7 million to 8 million tpy of LNG by 2030 but does not intend to depend on one country for more than 1 million to 2 million tpy of that to avoid the risk of sudden disruption, its head of finance Rakesh Jain said on Monday.
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