Gail India issues swap tender to buy and sell LNG in 2022

Gail (India) has issued a swap tender offering LNG cargoes for loading in the United States and seeking cargoes for delivery into India, in 2022, two industry sources said.

It has offered to swap one cargo a month in 2022 in a tender that closes on July 27, they said.

The cargoes it is offering will load from the Sabine Pass plant on a free-on-board (FOB) basis and the cargoes it is seeking will be delivered into India on a delivered ex-ship (DES) basis.

The Indian importer 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 in Louisiana.

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