GAIL India to Buy 10 Million Metric Tons a Year of Liquefied Natural Gas

Bloomberg reported that GAIL India Ltd. (NSE:GAIL) has planned to purchase 10 million metric tons a year of liquefied natural gas.

As quoted in the market news:

GAIL, India’s biggest natural-gas distributor, is following Korea Gas Corp. (036460) and Mitsubishi Corp. (8058) in securing higher-priced, oil-linked LNG supplies from the Middle East and seeking cheaper, gas-indexed prices in North America, whose main benchmark price is Henry Hub, traded on the New York New Delhi-based GAIL plans to buy as much as 10 million tons a year by 2020 to bring into India’s Dahej, Kochi and Dabhol import facilities.

Click here to read the full Bloomberg report.