India's GAIL to buy 8 spot LNG cargoes in Oct-March
Indian gas transmission firm GAIL (India) Ltd will buy eight spot liquefied natural gas (LNG) cargoes between October and March, Chairman B. C. Tripathi told reporters on Friday, after buying four in the first half of the fiscal year, Reuters reports.
GAIL will commission its LNG terminal in Dabhol, on the Indian west coast, in January, Tripathi said. The start of the five million tonnes a year terminal has seen repeated delays.
With gas demand expected to grow at 14 percent in the next five years, Asia's third-largest economy is scouting for long-term LNG contracts, and aims to increase its LNG handling capacity to 50 million tonnes a year by 2017 from 13.5 million tonnes now.
