GAIL India issues EOI to source LNG with equity portion in USA NG Liquefaction Project
The state-run firm would acquire 26% equity in the plant which is having up to 5 MMTPA Capacity. With more than 5MMTPA to Less than 10 MMTPA capacity it would acquire around 15% equity, while for more than 10 MMTPA capacity it will own around 10%.
State-owned GAIL (India) Ltd has issued an Invition of Expression of Interest to source 1 Million Metric Tons Per Annum (MMTPA) of LNG from an existing or upcoming Natural Gas (NG) liquefaction project in the United States of America (USA) on Free on Board (FOB) basis for a period of 15 years on mutually acceptable terms and conditions.
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The state-run firm would acquire 26% equity in the plant which is having up to 5 MMTPA Capacity. With more than 5MMTPA to Less than 10 MMTPA capacity it would acquire around 15% equity, while for more than 10 MMTPA capacity it will own around 10%.
Read Also : HUDCO appoints two Non-Official Independent Directors on BoardAccording to the issued tender, the contract period for LNG supply may be extended further by 5 / 10 years on a mutual basis. LNG supply / offtake shall commence tentatively in Calendar Year (CY) 2029 to 2030 from existing Project and in CY 2030 from upcoming Project.
The company will source LNG from the inviting bidding unit which has the right to sell LNG from the Project.
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