off-the-wire

GAIL India issues swap tender for LNG cargoes -sources

Kitco Media
By Reuters
Published:
Updated:
Reuters
SINGAPORE, May 2 (Reuters) - GAIL (India) has issued a swap tender offering three liquefied natural gas (LNG) cargoes for loading in the United States in exchange for three cargoes for delivery into India between July and September, two industry sources said on Tuesday.


India's largest gas distributor is offering two cargoes for loading from the Sabine Pass terminal and one from Cove Point, all on a free-on-board (FOB) basis.


Three cargoes are being sought for delivery into India's Dhamra terminal on a delivered ex-ship (DES) basis.


The tender closes on May 3.


The Dhamra terminal received its first LNG cargo on April 1 and is expected to begin commercial operations 30-45 days after receiving its first shipment.
(Reporting by Emily Chow Editing by David Goodman)

emily.chow.thomsonreuters.com@reuters.net))
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