India's GAIL to import 2 million tpy of LNG from US
7/10/2012 12:00:00 AM
India's state-run gas utility GAIL Ltd. is in the final stages of signing a 20-year deal to import 2 million tpy of liquefied natural gas (LNG) from the east coast of the US, the Times of India reported Tuesday, citing sources close to the development.
The deal could be worth $12 billion, the newspaper said.
Senior GAIL executives and Indian oil ministry officials were in the US last week to put the finishing touches on the deal, it said.
In December, GAIL signed a contract to buy LNG from Cheniere Energy's Sabine Pass LNG facility in the US state of Louisiana for 20 years.
Dow Jones Newswires
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