GAIL (India) Limited and Vital Asia Pte Ltd, on Friday, announced the signing of a Long Term LNG deal into India for supply of approximately one million metric tons of LNG per annum for a period of about 10 years, commencing 2026. Under this deal, Vital will deliver LNG from its global LNG portfolio to GAIL in India on a pan-India basis, the company said in a regulatory filing.
GAIL Chairman and Managing Director Sandeep Kumar Gupta said, “This long term LNG deal with Vital 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.”
Russell Hardy, CEO, Vital, said, “We are pleased to build on the existing relationship between Vital 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.”
Sanjay Kumar, Director – Marketing, GAIL, said that with the demand for natural gas in India getting consolidated, GAIL has been carrying on multiple negotiations with various LNG suppliers for long term deals and this LNG tie-up is a part of the same.
GAIL owns and operates a network of over 16,000 km of natural gas pipelines on pan India basis and is working concurrently on execution of multiple pipeline projects to further enhance the spread.