Delhi July 16, 2025: Pursuant to the binding time period sheet signed in January 2024, GAIL (India) Restricted and Vitol Asia Pte. Ltd. have executed a long-term LNG Gross sales and Buy Settlement (SPA) for the annual provide of roughly 1 Million Metric Tonnes Per Annum (MMTPA) of Liquefied Pure Fuel (LNG) over a interval of about 10 years, commencing in 2026. Beneath the settlement, Vitol will ship LNG to GAIL from its world LNG portfolio.
Talking on the event, Mr. Sanjay Kumar, Director (Advertising and marketing), GAIL, acknowledged that ” GAIL is increasing its long-term LNG portfolio to fulfill demand progress. We’re happy to companion with Vitol Asia Pte. Ltd., and this settlement represents a key milestone in reinforcing GAIL’s functionality to reliably serve its various and evolving buyer base.”
Jay Ng, Chief Monetary Officer, Vitol Asia and Government Committee member, stated: “Vitol is honoured to increase its relationship with GAIL to a long run LNG provide contract.
The rising Indian market is core to Vitol’s technique and Vitol’s diversified portfolio allows it to supply India a secure provide of cleaner and aggressive power.”
India emerged because the world’s fourth-largest LNG importer in 2024, with demand anticipated to rise steadily over the subsequent decade.
The Authorities of India has set an formidable goal to extend the share of pure gasoline within the nation’s major power combine from the present 6% to fifteen% by 2030. Supporting this imaginative and prescient, India’s LNG regasification capability has seen substantial progress, practically doubling from 21 MMTPA in 2014.
About GAIL
GAIL, a Maharatna Central Public Sector Enterprise, is India’s main pure gasoline transmission and distribution firm with gasoline transmission & distribution pipelines, processing and petrochemical vegetation, moreover curiosity in upstream oil & gasoline blocks and LNG regasification terminals in India.
GAIL is devoted to enhancing the nation’s power infrastructure and selling sustainable improvement via varied initiatives in pure gasoline, petrochemicals, and renewable power. For extra data, please go to www.gailonline.com
About Vitol
Vitol is a frontrunner in power and commodities. Vitol produces, manages and delivers power and commodities, together with metals, to shoppers and trade worldwide.
Along with its major enterprise, buying and selling, Vitol is invested in infrastructure globally, with $13+billion invested in long-term property.
Vitol’s clients embrace nationwide power firms, multinationals, main industrial firms and utilities. Based in Rotterdam in 1966, as we speak Vitol serves its clients from some 40 workplaces worldwide. Revenues in 2024 have been $331 bn.
LNG at Vitol
Vitol is a long-established participant in LNG markets, having commenced LNG buying and selling within the mid-2000s.
It has a diversified world LNG portfolio of contracts and fairness positions, enabling it to supply clients with tailored provide options on a short- and long-term foundation. In 2024 Vitol delivered 18mMT of LNG www.vitol.com
Disclaimer:- This story has not been edited by SugerMint workers and supplied by the company. SugerMint is not going to be accountable in any method for the content material of this story.
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