State-owned gas transporter GAIL is looking to buy up to a 26 per cent stake in an LNG project in the US in an attempt to shore up supply sources to meet rising demand.
The company has issued a tender seeking expression of interest from operators of existing liquefied natural gas liquefaction plants or proposed projects in the US that will be commissioned by 2027. Liquefaction plants convert natural gas into liquid form, enabling its seaborne transportation.
The company is also looking to buy 1 million tonnes a year of LNG from the facility for 15 years, starting the last quarter of calendar year 2026, according to the tender document. GAIL is open to extending the contract by another 5 to 10 years. The deadline to submit the EoI is March 10.
