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India Expects Gazprom/Gail Gas Disruption Issue To Resolve

NATURAL GAS

India’s oil minister expects gas supply disruption between a Gazprom Marketing and Singapore and Gail to be resolved, after supply disruptions due to a change in ownership of the Gazprom unit.

  • “My expectation is it will be resolved”, India’s oil minister Hardeep Singh Puri said.
  • Gail and Gazprom Marketing and Singapore finalised a 20-year 2.5mn t/yr LNG delivery deal in 2012.
  • The Gazprom unit was a unit of Gazprom Germania, now called SEFE and owned by the German government.
  • Earlier this month, Gail turned down a compensation offer by SEFE, equivalent to 20% of the LNG cost, or 14% of Brent prices, in line with the previous contract conditions, according to Reuters.
Energy BulletsCommodities
Energy BulletsCommodities

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