New Delhi: State-owned GAIL (India) Limited and Vitol Asia Pte Ltd have signed a long-term agreement for the supply of around one million metric tonnes of liquefied natural gas (LNG) annually to India for a period of approximately 10 years, starting from 2026.
Under the agreement, Vitol will supply LNG from its global portfolio to GAIL, with deliveries scheduled on a pan-India basis. The deal is part of GAIL’s strategy to expand its LNG portfolio and ensure stable supply to meet the country’s growing energy needs.
“This long term LNG supply deal with Vitol by GAIL will augment its large Liquefied Natural Gas (LNG) portfolio and will contribute to bridging India’s demand and supply gap of natural gas,” GAIL Chairman and Managing Director Sandeep Kumar Gupta said in a statement.
Vitol, one of the world’s largest independent energy trading companies, expressed commitment to supporting India’s energy transition.
“We are pleased to build on the existing relationship between Vitol and GAIL and to conclude this Long Term LNG supply deal together. 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,” said Vitol CEO Russell Hardy.
India has been expanding its gas infrastructure and import contracts to shift towards a gas-based economy, targeting an increase in the share of natural gas in the energy mix to 15 per cent by 2030.
