GAIL looks to buy 26% stake in US LNG project
India’s biggest gas firm GAIL is looking to buy up to 26 per cent stake in a LNG project in the United States in an attempt to shore up supply sources to meet rising demand.
GAIL (India) Ltd, had run into supply disruptions last year after Russia-owned Gazprom Marketing and Trading (GMTS) failed to deliver contracted LNG due to western sanctions on Moscow over its invasion of Ukraine.
The company has issued a tender seeking expression of interest (EoI) from operators of existing liquefied natural gas (LNG) liquefaction plants or proposed projects in the US that will be commissioned by 2027.
