India's GAIL evaluating buying stake in Adani's east coast LNG terminal

The chairman of India’s GAIL said the company was evaluating buying a stake in the Adani Group’s proposed 5 million tonnes per annum Dhamra liquefied natural gas (LNG) terminal on India’s eastern coast.

GAIL has sold about 70 percent of U.S. LNG in deals with terms extending up to 20 years to Indian buyers, and the rest to global firms in deal terms extending to up to five years, he said.

GAIL has 20-year deals to buy 5.8 million tonnes a year of U.S. LNG, split between Dominion Energy’s Cove Point plant and Cheniere Energy’s Sabine Pass site.

(Reporting by Nidhi Verma; Editing by Susan Fenton)

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