GAIL (India) and Vitol Asia Pte recently signed a long-term liquified natural gas (LNG) deal, according to the company's release.
Under this deal, Vitol will supply one million metric tonnes of LNG per annum for a period of about 10 years, commencing 2026, from its global LNG portfolio to GAIL in India on a pan- India basis.
GAIL Chairman and Managing Vitol Director, Sandeep Kumar Gupta, said, "This long-term LNG deal with Vitol will augment its large LNG portfolio and will contribute to bridging India's demand and supply gap of natural gas."
Vitol CEO Russell Hardy said, "India is a significant and growing LNG market and we are excited to bring LNG supply from our global LNG portfolio to meet this rising natural gas demand in India."