Gazprom has asked India’s largest gas transmitter GAIL (India) to pay for gas imports in Euros instead of dollars, two sources said, in a sign the Russian energy giant seeks to wean itself away from the US currency.
GAIL has a long-term gas import deal with Gazprom Marketing and Trading Singapore to annually buy 2.5 million tonnes of liquefied natural gas and has been settling trade with Gazprom in dollars.
GAIL, which imports and distributes gas, also operates India’s largest gas pipeline network.
Last week, Gazprom wrote to GAIL requesting the company settle payments in euros instead of dollars, the sources familiar with the matter said, adding the PSU is still examining the request.
