Gazprom Marketing and Trading, a Gazprom affiliate, signed a legally binding agreement to supply liquefied natural gas to India's GAIL for 20 years, the companies said Monday.
Under the terms of the agreement, GAIL will receive 2.5 million tons of LNG sourced from Gazprom's own production facilities and global trading portfolio, they said in a statement.
The price GAIL pays Gazprom will be based on an oil-indexed formula, and the gas will be delivered to terminals at Dahej, Dabhol and Kochi.
"We are looking forward to working together with GAIL to help meet India's expanding gas demand while securing a long-term market for Russian gas," said Vitaly Vasilyev, chief executive of Gazprom Marketing and Trading.
(Reuters)
Related articles:
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.