NEW DELHI: Moscow\u2019s tit-for-tat against Germany\u2019s takeover of Russian gas major Gazprom\u2019s investment and holding subsidiary Gazprom Germania has hit LNG (liquefied natural gas) shipments to state-run GAIL, sending the Indian utility scurrying for alternative supplies.
\nSources said GM&T Singapore, a subsidiary of Gazprom\u2019s trading arm Gazprom Marketing & Trading Ltd (GM&T) that was brought under Gazprom Germania\u2019s fold, has not delivered five cargos under a 20-year deal signed in October 2012 for 2.5 million tonne a year of LNG.
\nThis has put GAIL in a spot amid rising gas demand as imports meets 50% of India\u2019s consumption. Sources said given the uncertainty over future supplies, GAIL is scouting for medium-term contracts to avoid buying costlier shipments from spot market to bridge the shortfall.
\nGAIL\u2019s contract has suffered collateral damage in the war of attrition between Moscow and Europe because of intertwined business among a maze of subsidiaries floated by Gazprom for gas trading.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Moscow\u2019s tit-for-tat against Germany\u2019s takeover of Russian gas major Gazprom\u2019s investment and holding subsidiary Gazprom Germania has hit LNG (liquefied natural gas) shipments to state-run GAIL, sending the Indian utility scurrying for alternative supplies. Sources said GM&T Singapore, a subsidiary of Gazprom\u2019s trading arm Gazprom Marketing & Trading Ltd (GM&T) that was brought under Gazprom Germania\u2019s fold, has not delivered five cargos under a 20-year deal signed in October 2012 for 2.5 million tonne a year of LNG. This has put GAIL in a spot amid rising gas demand as imports meets 50% of India\u2019s consumption. Sources said […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-507071","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/507071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=507071"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/507071\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=507071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=507071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=507071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}