GAIL plans to buy up to 26% equity stake in LNG projects in United States
SINGAPORE (Reuters) – India’s largest gas distributor GAIL (India) Ltd is looking to buy an equity stake of up to 26% in a liquefied natural gas (LNG) liquefaction plant or project in the United States, according to a document issued by the company.
GAIL had run into supply disruptions last year after Russia-owned Gazprom Marketing and Trading (GMTS) failed to deliver some LNG cargoes, following western sanctions on Moscow over its invasion of Ukraine.
The company is, either directly or through its affiliates, “exploring the opportunity” to buy equity from an existing or post-commissioning of a proposed LNG liquefaction plant or project in the U.S., the document dated Feb. 16 said.
