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GAIL to Issue More LNG Swap Tenders: Argus

LNG

India’ GAIL will issue more LNG swap tenders to exchange US term cargoes with supplies closer to India while Red Sea disruptions exist, according to Argus.

  • India’s US LNG imports have fallen since Houthi attacks began disrupting Red Sea flows.
  • Gail has sold cargoes from Sabine Pass in the USGC to an unnamed bidder, its director of marketing told Argus, using the proceeds to buy spot cargoes from sources in Asia and the Middle East.
  • GAIL has a 5.8m mtpa supply deal from Sabine Pass and a 5.75m mtpa deal from Cove Point.
  • Delays in transiting the Suez Canal route add around 7 days to the US-Dahej route.
  • Gail said it expects the conflict to last at least another few months, Argus said.
  • Currently, over 80% of volumes coming from the Middle East, according to Vortexa.

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