New Delhi: GAIL (India) Ltd has signed a long-term charter agreement with Greece-based Alpha Gas for the liquefied natural gas (LNG) carrier Energy Fidelity, the state-run firm said on Tuesday.
The agreement was executed with Pantheon Maritime Services, a Singapore-based affiliate of Alpha Gas, and was signed in Athens by senior officials from both companies, GAIL said in a statement.
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The vessel, with a capacity of 174,000 cubic metres, is equipped with advanced propulsion and fuel-efficiency technologies aimed at lowering emissions, GAIL said.
The deal is part of GAIL's strategy to strengthen its LNG shipping capacity and support India's long-term energy security.
GAIL will use the carrier to import liquefied natural gas (LNG) from countries like the US and Russia.
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GAIL is India's largest natural gas company with diversified interests across trading, transmission, LPG production and transmission, LNG shipping, LNG re-gasification, petrochemicals and city gas. The company owns and operates a network of over 18001-plus km of natural gas pipelines spread across the length and breadth of the country.
Alpha Gas is a leading Greek shipping company offering a comprehensive in-house suite of LNG ship management services.
The agreement was executed with Pantheon Maritime Services, a Singapore-based affiliate of Alpha Gas, and was signed in Athens by senior officials from both companies, GAIL said in a statement.
Also Read: Iran war: Natural gas pool set to release 7 mmscmd to priority sectors amid supply crunch
The vessel, with a capacity of 174,000 cubic metres, is equipped with advanced propulsion and fuel-efficiency technologies aimed at lowering emissions, GAIL said.
The deal is part of GAIL's strategy to strengthen its LNG shipping capacity and support India's long-term energy security.
GAIL will use the carrier to import liquefied natural gas (LNG) from countries like the US and Russia.
Also Read: Stock Radar: GAIL stock climbs above descending trendline; time to buy after 16% fall from highs?
GAIL is India's largest natural gas company with diversified interests across trading, transmission, LPG production and transmission, LNG shipping, LNG re-gasification, petrochemicals and city gas. The company owns and operates a network of over 18001-plus km of natural gas pipelines spread across the length and breadth of the country.
Alpha Gas is a leading Greek shipping company offering a comprehensive in-house suite of LNG ship management services.
