30 April 2024
GAIL strikes US LNG time-swap deal – reports
Publication date: 23 May 2017
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India's state-owned utility GAIL has signed a time-swap deal to re-sell some of the US LNG it has committed to buy from Cheniere’s Sabine Pass liquefaction facility early next year.
The move is part of a bid re-shape GAIL’s supply portfolio around a challenging domestic demand outlook, local media reported this week. Industry sources said the measure might help GAIL avoid defaulting on the volumes, but only in the short term – and that the company remains long on LNG.