Default by Gazprom unit: GAIL looking for alternative ways to source LNG

GAIL (India) Ltd is exploring various ways including entering into term agreements and advancing some cargos from the US to make up for the shortfall in liquefied natural gas (LNG) supply from Gazprom Marketing and Trading Singapore (GMTS).

Since volumes from GMTS contract is around 8-9% of total gas sales by GAIL on an annualised basis, any supply disruption might impact the fertiliser sector that uses gas as feedstock.