State-owned gas utility GAIL India Ltd has sold overseas two million tonnes of liquefied natural gas (LNG) it had contracted from the US, its Chairman B C Tripathi said today.
Out of the two million tonnes of LNG, one million tonne has been sold to Royal Dutch Shell.
Tripathi refused to give details of other buyers.
GAIL has signed a contract to buy 3.5 million tonnes of LNG per year for 20 years from the US-based Cheniere Energy and has also booked capacity for another 2.3 million tonnes per annum at Dominion Energy's Cove Point liquefaction plant.
The landed price of US LNG in India is not likely to be less than USD 10 per million British thermal unit, a rate that domestic industry may consider high after adding taxes, transportation charges and margins.
