PSU IN MEDIA
GAIL scraps USD 7 billion LNG tender from US
New Delhi. GAIL India Ltd has scrapped a $7 billion tender for hiring newly built ships to ferry LNG from US after bidders did not agree to ‘Make-in-India’ terms. GAIL, which was forced by the Oil Ministry to add the Make-in-India condition to its tender, will now hire the ships from the global spot or current market to transport liquefied natural gas (LNG), a top official said.
Two Japanese bidders — a consortium of Mitsui OSK Lines (MOL)-Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui & Co and a consortium comprising Mitsubishi Corporation-Kawasaki Kisen Kaisha Ltd (K Line) and GasLog, had sought several deviations from the tender conditions, which were not agreeable to GAIL.
“We discussed with both the bidder the deviations they sought for over six months but when they didn’t agree, we were left with no option but to cancel the tender,” the official said.
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