GAIL (India) and Vital Asia ink decade-long LNG supply agreement
GAIL (India) Limited, a leading player in India’s natural gas sector, and Vital Asia Pte Ltd., a key figure in the global energy market, have announced the signing of a long-term LNG (Liquefied Natural Gas) deal. This landmark agreement, set to commence in 2026, involves the supply of approximately one million metric tons of LNG per annum to India for a duration of about ten years. The deal was signed in Singapore and reflects both companies’ commitment to addressing India’s growing demand for natural gas.
Under this agreement, Vital Asia will deliver LNG from its diverse global portfolio to GAIL in India on a pan-India basis. This strategic tie-up is a significant step for GAIL, as emphasized by its Chairman and Managing Director, Sandeep Kumar Gupta. He stated, “This long-term LNG deal with Vital by GAIL will augment its large Liquefied Natural Gas portfolio and will contribute to bridging India’s demand and supply gap of natural gas.”
Vital’s CEO, Russell Hardy, also expressed his enthusiasm for the partnership, recognizing the importance of the Indian LNG market. He highlighted that Vital is excited to bring LNG supply from its extensive global portfolio to meet the rising natural gas demand in India.
Strategic LNG Partnership: GAIL Secures One Million Metric Tons Annual Supply from Vital Asia
GAIL’s Director (Marketing), Sanjay Kumar, noted that this deal aligns with India’s consolidating demand for natural gas. He explained that the LNG tie-up is part of GAIL’s ongoing negotiations with various LNG suppliers for long-term deals. GAIL’s formidable presence in India’s gas trading, transmission, LPG production & transmission, LNG regasification, petrochemicals, city gas, and E&P sectors, combined with its extensive pipeline network, positions it as a key player in the energy market.
Vital Asia, a leader in the energy sector, is known for its comprehensive presence across oil and gas, power, renewables, and carbon sectors. The company trades significant volumes of crude oil and products and charters a substantial number of sea voyages annually. With its vast global LNG portfolio and a fleet of LNG vessels, Vital Asia is well-equipped to meet the diverse energy needs of its clients worldwide.
This long-term LNG supply deal between GAIL (India) Limited and Vital Asia Pte Ltd. is a significant development in the global energy sector, indicating a strong partnership aimed at enhancing energy security and meeting the rising energy demands in India.