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Vitol and GAIL Sign Long Term LNG Supply Deal into India
5th January 2024
- GAIL (India) Limited and Vitol Asia Pte Ltd, have announced the signing of a Long Term LNG deal into India for a supply of approximately one million metric tons of LNG per annum for a period of about 10 years, commencing 2026
- Under this deal, Vitol willdeliver LNG from its global LNG portfolio to GAIL in India on a pan-India basis
- GAIL has said, “This long term LNG deal with Vitol by GAIL will augment its large Liquefied Natural Gas (LNG) portfolio and will contribute to bridging India’s demand and supply gap of natural gas”
- Vitol has said, “We are pleased to build on the existing relationship between Vitol and GAIL and to conclude this Long Term LNG supplydeal together. India is a significant and growing LNG market and we are excited to bring LNG supply from our global LNG portfolio tomeet this rising natural gas demand in India”
- Vitol is a leader in the energy sector with a presence across the spectrum: from oil and gas through to power, renewables and carbon.It trades 7.4 million barrels per day of crude oil and products, and charters circa 6,000 sea voyages every year. Vitol’s clients includenational oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol servesclients from some 40 offices worldwide and is invested in energy assets globally including: 17 m m3 of storage globally, circa 500 kb/d of refining capacity, over 7,000 service stations and a growing portfolio of transitional and renewable energy assets
Vitol has a global LNG portfolio with long term LNG supply from North America, Africa, Middle East, and Asia, a global fleet of LNG vessels and an experienced LNG team across Asia, Europe and the US. In 2022, Vitol physically delivered approximately 14 Mtpa of LNG