State-owned Gail (India) Limited has signed a long-term deal with Vitol Asia Private Ltd to secure one million metric tonnes of Liquefied Natural Gas (LNG) annually for 10 years. Set to take effect from 2026, the deal will see Vitol deliver from its global LNG portfolio to Gail on a pan-India basis.
The deal is significant as it is the first of a series of agreements being pursued by Gail to diversify its imports beyond Qatar, aiming to avoid disruption in supplies. Vitol is a Switzerland-based, Dutch multinational energy and commodity trading company.
