Gazprom Global LNG has announced the signing of three memorandums of understanding for long term liquefied natural gas supplies to the major Indian energy users GAIL, Gujarat State Petroleum Company and Petronet LNG Limited.
The deals will supply the companies with an additional seven and a half million tonnes of LNG per year.
Frédéric Barnaud, President & Managing Director of Gazprom Global LNG said: “Thanks to our Russian LNG portfolio, we are confident GGLNG will lead the strengthening growth of the LNG markets, in India and across the world.”
Gazprom has made it clear that India is one of its key markets for LNG supplies. Gazprom Marketing & Trading will provide LNG to its Indian partners from current and projected Gazprom production and will be supplemented by its wider Russian and international supply portfolio.
Nigel Kuzemko, Gazprom’s Global Director of LNG Development said the deals were expected to go through soon: “The negotiations are on-going and the Sales and Purchase Agreements are expected to be finalised over the coming months.
“Gazprom’s LNG marketing and trading arm has leveraged its integrated Sakhalin asset and its international trading portfolio to develop the capabilities in marketing, shipping and logistics on a global scale.”