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India's GAIL Set to Target Cheap Russian Gas

NATURAL GAS

India’s state gas company GAIL India is negotiating gas imports from Russia’s Gazprom, the Indian newspaper Economic Times reported on Friday.

  • The cost of imports could be lower than international prices since Russia has surpluses as its exports to Europe have dwindled.
  • Gazprom has likely "proposed to the Indian public sector company that it purchase the fuel from Gazprom Singapore and settle payments in euros in future trades," the paper said.

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