GAIL Boosts LNG Supply with Qatar Deal

State gas utility GAIL (India) Ltd is set to enhance its LNG supply by starting a five-year deal with Qatar Energy Trading in April. The agreement is part of GAIL's efforts to meet India's increasing energy needs and align with its goal to raise natural gas usage to 15% by 2030.

State-owned gas utility GAIL (India) Ltd is ramping up its liquefied natural gas (LNG) supplies with a new contract from Qatar Energy Trading. Deliveries under this five-year deal, which includes 12 cargoes annually, will commence next month, highlighting India's efforts to secure additional energy resources.

In addition to the Qatar contract, GAIL has secured long-term agreements with major suppliers such as Vitol Asia and the UAE's ADNOC Gas. These strategic partnerships aim to meet the demands of India's rapidly growing economy and align with its goal of increasing the share of natural gas in its energy mix.

The deal with Qatar Energy involves deliveries based on a pricing slope of 115% to Henry Hub plus a constant, ensuring cost-effectiveness in sourcing. GAIL continues to diversify its LNG portfolio with planned enhancements until 2030, backing India's energy transition goals through stable and sustainable supply chains.

(With inputs from agencies.)