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5 June 2018

The First LNG Cargo under the Long-Term Contract between Gazprom Marketing and Trading and GAIL arrived to India

On June 4, the first tanker with LNG cargo arrived to the port of Dahej (Gujarat state in North-West India) under the long-term contract between Gazprom Marketing and Trading Singapore and GAIL. The official welcome ceremony was attended by the Minister of Petroleum and Natural Gas of India Dharmendra Pradhan, the Chairman and Managing Director of GAIL B. C. Tripathi, as well as representatives of Gazprom Group.

The start of long-term LNG supply will allow Gazprom to strengthen its presence in one of the most promising gas markets in the world. As for now, India is the fourth largest LNG importer in the world, and gas consumption there continues to increase. The government of India has set the goal of raising the share of gas in the energy balance of the country to 15% by 2030 from the current level of about 6.5%.

The agreement on LNG supply to India was signed by the parties on 29 August 2012. The contract provides the supply of 2.9 million tons per year for 20 years and an additional three-year period of reaching a plateau.

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