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June 20, 2018

Marine News

Marine News

Tanker voyage marks start of 20-year Cheniere-Gail deal

Houston (Platts)--5Mar2018/556 pm EST/2256 GMT


Cheniere Energy and Gail Ltd. on Monday celebrated the start of their 20-year contract to supply US-sourced LNG to India from Cheniere's Sabine Pass liquefaction facility in Louisiana, with one of Gail's first shipments departing from the facility.

The LNG tanker was scheduled to set sail after Monday's ceremony to mark the occasion at Sabine Pass. Cheniere President and CEO Jack Fusco and B.C. Tripathi, chairman and managing director of India's Gail, were joined by Consul General Anupam Ray and other representatives of Cheniere and Gail at the ceremony.

The sale and purchase agreement, which the two companies signed December 2011, went into effect March 1. Under terms of the agreement, Cheniere will sell and make available for delivery to Gail about 3.5 million mt/year of LNG.

"The commencement of this agreement marks the start of a long and productive relationship between Cheniere and Gail," Fusco said Monday in a statement.

"Gail is one of the foundation customers of Cheniere, having signed the contract in 2011. With supplies commencing from the US, Gail will have a diversified portfolio both on price indexation and geographical locations," Tripathi said.

--Jim Magill, jim.magill@spglobal.com
--Edited by Valarie Jackson, newsdesk@spglobal.com

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