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Modi and Trump had agreed in February to expand energy ties, with India offering to increase their purchase of US oil and gas from $ 15 billion in 2024 to $ 25 billion in the coming years
Gail is the main natural gas company in India. (Gail website)
In the midst of conversations to the commercial agreement, the main natural gas company in India, Gail (India) Limited, has invited an expression of interest (EOI) for acquiring a participation of up to 26 percent in a US GNL project. UU. (Liquefied natural gas) and a 15 -year gas supply contract. This is significant as India, who tries the trip of Prime Minister Narendra Modi to the United States to meet with President Donald Trump in February, offered to increase the purchase of oil and gas from the United States in India in a significant amount.
According to the EOI document seen by CNN-NEWS18, Gail has said that it is interested for 1 million metric tons per year (mmtpa) or LNG of an existing or next natural gas liquefaction project (NG) in the US. UU. In the USA in acceptable terms and conditions of free mutan. “The contract period for LNG supply can be extended even more in 5/10 years in a mutual way. The LNG supply / elimination will begin tentatively in the calendar year (Cy) 2029 to 2030 from the existing project and in Cy 2030 from the next project. Gail will obtain LNG of the company that has the right to sell LNG from the project,” says the EOI document.
Gail has said that he has the option of acquiring the “objective heritage” along with the project in the US.
The document says that if a single company performs the full value chain, such as asset property, LNG sales, operation and maintenance, etc.
If different companies handle the project value chain, such as asset property, LNG sales, operation and maintenance, etc., Gail will exercise capital in the company holding what has 100 percent beneficial.
“For the previous two cases, the capital option would be in the following basic company (a) LNG / company holder that has a capacity of up to 5 mmtpa, Gail will have equity capital to 26% capital of capital / company Holding Pany / Holding Company / Havy Company / Havy / Havy Company / Havy Company / Company / Havy Company / Havy Havy Company less than or equal to 10 mmmtpa cappany, Havy Company / Havy Company will have a Vyvy crop company.
Modi and Trump had agreed in February to expand energy ties, with India offering to increase their purchase of US oil and gas from $ 15 billion in 2024 to $ 25 billion in the coming years. Gail is the leading natural gas company of India with a presence throughout the gas value chain, which includes exploration and production, liquefied natural gas imports (LNG), transmission and gas marketing, gas processing, petrochemicals, LPG gas distribution. Gail appears in the National Stock Exchange of India, the Bombay Stock Exchange and the London Stock Exchange (RDA form) with market capitalization of around US $ 14 billion as of March 31, 2025.
Gail has said that the EOI is an intention to obtain LNG along with the capital option in an NG liquefaction project in the US. And their dispositions are not binding on nature.
The offers have invited leg with the last date of April 28, which shows the urgency of the project.