GAIL (India) Ltd has contracted a newbuild LNG carrier from NYSE-listed Cool Company for 14 years, enhancing its transportation capacity to meet India's rising gas needs. The agreement includes partnerships with Sabine Pass Liquefaction LLC and Cove Point LNG liquefaction terminal. GAIL presently has four LNG carriers in its fleet and the one coming from CoolCo will be the fifth. The firm will use the LNG tanker to ship more super-chilled fuel from the US, where it has contracted to buy 2.5 million tonne per annum (MTPA) of LNG from Sabine Pass Liquefaction LLC, USA, beginning February 2018. It also has booked 2.3 MTPA of capacity in the Cove Point LNG liquefaction terminal, also in the US. GAIL has a global LNG portfolio of around 14 MTPA and uses ships to bring that gas to India [86a59198].
This new development highlights GAIL's efforts to expand its transportation capacity and meet the increasing demand for gas in India. By contracting a new LNG carrier from Cool Company, GAIL aims to enhance its ability to import and transport LNG from the US. The agreement also includes partnerships with Sabine Pass Liquefaction LLC and Cove Point LNG liquefaction terminal, further strengthening GAIL's position in the LNG market. With this new addition to its fleet, GAIL will be better equipped to meet India's rising gas needs and contribute to the country's energy security [86a59198].