Major Indian gas trading and local gas supplying company GAIL (India) Limited and energy producer Vitol Asia (Vitol) has announced the signing of a Long-Term LNG supply contract into India.
Vitol states that the agreement with GAIL is for the annual supply of approximately one million metric tons of LNG for a period of approximately 10 years, starting from 2026.
The LNG will be supplied from Vitol’s global LNG portfolio to GAIL and these deliveries will be on a pan-India basis.
“This long-term LNG supply deal with Vitol by GAIL will augment its large Liquefied Natural Gas (LNG) portfolio and will contribute to bridging India’s demand and supply gap of natural gas,” said Sandeep Kumar Gupta, GAIL chairman and managing director.
“We are pleased to build on the existing relationship between Vitol and GAIL and to conclude this Long-Term LNG supply deal together. India is a significant and growing LNG market, and we are excited to bring LNG supply from our global LNG portfolio to meet this rising natural gas demand in India,” noted Russell Hardy, chief executive of Vitol.
