New Delhi: State-owned natural gas processing and distribution company GAIL and Japan based Chubu Electric Power Co Inc has signed Memorandum of Understanding (MoU) to explore possibilities for joint LNG procurement. The MoU was inked on the sidelines of Gastech Conference being held in Seoul, South Korea.
Chubu and GAIL are large LNG importers having significant synergy between their LNG business profiles and this partnership would be a win-win proposition for both companies. For GAIL, this collaboration would enhance its efforts to aggressively obtain LNG capacities on competitive terms.
Bridging the demand supply gap of natural gas in the Indian market via this MoU is yet another effort by GAIL. Other initiatives by the company towards LNG sourcing include creating LNG regasification infrastructure, reserving liquefaction tolling capacity in overseas projects and augmenting transmission capacity significantly over the next few years.
EPC World News Bureau
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