Gas Authority of India Limited (GAIL) has executed a 10‑year sales and purchase agreement (SPA) with Vitol Asia Pte. Ltd. for the annual supply of approximately one million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG), commencing in 2026, according to the release.
The SPA formalises a binding term sheet signed in January 2024 and will source volumes from Vitol’s global LNG portfolio.
Sanjay Kumar, Director of Marketing at GAIL, remarked: “GAIL is expanding its long‑term LNG portfolio to meet demand growth. We are pleased to partner with Vitol Asia Pte. Ltd., and this agreement represents a key milestone in reinforcing GAIL’s capability to reliably serve its diverse and evolving customer base.”
According to GAIL, India became the world’s fourth-largest LNG importer in 2024, and demand is projected to rise steadily over the next decade.
The government has set a target to increase natural gas’s share in the primary energy mix from 6 % to 15 % by 2030, while regasification capacity has nearly doubled since 2014.
One of India’s Maharatna central public sector enterprises, GAIL is the country’s leading natural gas transmission and distribution company. It operates over 16 000 km of pipelines, LNG regasification terminals, and petrochemical and LPG facilities.
Vitol Asia Pte. Ltd. (Vitol) is a unit of Vitol Group, a global energy and commodities trader founded in Rotterdam in 1966. Vitol trades approximately 7.4 million barrels per day of crude and products, operates a fleet of around 6 000 voyages annually, and delivered ~14 mtpa of LNG in 2022.