GAIL (India) and Vitol Asia have signed a long-term LNG sales and purchase agreement (SPA) for the annual supply of approximately 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) over a period of about 10 years, commencing in 2026. Under the agreement, Vitol will deliver LNG to GAIL from its global LNG portfolio.
Mr. Sanjay Kumar, director (marketing), GAIL, says: ‘GAIL is expanding its long-term LNG portfolio to meet demand growth. We are pleased to partner with Vitol Asia, and this agreement represents a key milestone in reinforcing GAIL’s capability to reliably serve its diverse and evolving customer base.’
Jay Ng, chief financial officer, Vitol Asia and executive committee member, adds: ‘Vitol is honoured to extend its relationship with GAIL to a long term LNG supply contract. The growing Indian market is core to Vitol’s strategy and Vitol’s diversified portfolio enables it to offer India a stable supply of cleaner and competitive energy.’
GAIL & Vitol Sign LNG Agreement
