India's Gail Seeks US LNG Swaps

摘要

State-owned Gail India has invited bids to swap some of the Henry Hub-indexed US LNG volumes it has contracted from Cheniere's Sabine Pass plant in exchange for a strip of Brent-linked cargoes. Gail had earlier issued an "expression of interest" for an LNG swap arrangement for its US volumes last October and again in April in a move to save on shipping costs. In 2011, Gail contracted 3.5 million tons/yr of LNG from the Sabine Pass terminal in Louisiana over a 20-year period with supplies slated to start in 2018.