GAIL brings India's first spot LNG cargo

Mumbai, May 23: State-owned gas transporter GAIL India has received the first spot LNG cargo from Algeria at the Petronet LNG Dahej terminal in Gujarat.

For the first time in the Indian markets, the Company has aligned the Indian gas sector with global trends at the prevailing rates, GAIL informed BSE today.

Captained by Grandic Dalidor, the ship ''Golar Winter'' with a capacity of 135,000 cubic metres arrived to a ceremonial welcome at the terminal on May 20. The discharge of the gas started on May 20 and was completed the next day.

Speaking on this occasion, GAIL chairman and managing director Proshanto Banerjee said the Company is currently exploring the possibility of commercial gas storage to meet the demand of the consumers during peak season. Areas such as salt caverns, aquifers and depleted gas fields could be used for storing gas.

The Company is in the process of appointing a consultant in the next two months to identify ways of storing natural gas. A detailed report is expected by end of this year, after which it shall take about three years to make storage of gas possible.

With the initiation of spot LNG cargos, the Company is expecting two more such cargos from Algeria and is also in talks with other potential LNG suppliers in Pacific Basin, Atlantic Basin and Middle East for spot as well as medium to long term supplies.

UNI