GAIL (India), India’s leading natural gas company, has taken a strategic step to expand its fleet of liquefied natural gas (LNG) carriers by signing a long-term charter agreement with Kawasaki Kisen Kaisha (“K” LINE), one of the most experienced companies in the LNG shipping industry.
A new LNG ship to expand the fleet
This agreement includes a modern LNG carrier with a tank capacity of 174,000 m³ , which will be built by Samsung Heavy Industries in South Korea . The ship will begin operations in 2027, transporting natural gas for GAIL.
This charter agreement, signed through the ship’s Singapore -based owner, represents the first long-term collaboration between GAIL and “K” LINE with a newly built vessel. With this agreement, GAIL strengthens its LNG transportation capacity, expanding its current fleet, which already has four vessels: GAIL Bhuwan, GAIL Urja, Grace Emilia and Maran Gas Pericles.
In addition, two new vessels are expected to be added to the fleet this year, including another vessel on long-term charter.
Diversification in LNG supply and transportation
GAIL continues to diversify its LNG supply portfolio, with over 15 MMTPA of supply from diverse geographies. This includes supply sources on both FOB and DES terms, enabling the company to meet the growing domestic and international demand for natural gas.
GAIL’s fleet plays a crucial role in increasing contracted volumes under FOB conditions, mainly from North America.
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Source and photo: GAIL (India) Limited
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