Business
GAIL To Strengthen Global Presence With New LNG Carrier
Representative Image
State-owned GAIL and Japanese transport firm Mitsui OSK Lines (MOL), through a wholly owned MOL subsidiary, on Tuesday (20 December) signed a time charter contract for a newbuilding Liquefied Natural Gas (LNG) carrier and a joint ownership of an existing LNG carrier.
The new building vessel will be the second MOL group LNG carrier serving GAIL, the company said in a statement.
The parties signed a contract for the first vessel in 2019 and it has been chartered to GAIL through a wholly owned MOL subsidiary from 2021, the statement said.
"At this time, MOL and GAIL reached an agreement to share the vessel by transferring a portion of a wholly owned MOL subsidiary's shares to GAIL," it added.
GAIL is constantly expanding its global presence through its participation in projects/ventures along the natural gas value chain, the statement said.
With the global LNG portfolio of around 14 MMTPA, GAIL has emerged as one of the leading global LNG players and is actively involved in the LNG trading business in the international market, it added.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
