GAIL To Strengthen Global Presence With New LNG Carrier
Representative ImageState-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.
- GAIL ,
- LNG ,
- MOL ,
- LNG carrier ,
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.
