GAIL

SINGAPORE, Oct 15 (Reuters) - GAIL (India) GAIL.NS has issued a tender seeking a liquefied natural gas (LNG) cargo for delivery in November, two industry sources said on Wednesday.

GAIL is seeking the cargo for delivery on November 21-23 to the western Hazira terminal. It is seeking the cargo on a delivered-ex-ship basis, added one of the sources.

The tender closes on October 15.

(Reporting by Emily Chow; Editing by Rashmi Aich)

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Adds details

Oct 13 - U.S. energy firm Berkshire Hathaway Energy's Cove Point liquefied natural gas (LNG) export plant in Maryland returned to service on Sunday after a planned autumn maintenance outage, according to a company notice to customers and data from financial firm LSEG.

The amount of natural gas flowing to the plant, which shut around September 20, rose from about zero to 0.9 billion cubic feet per day (bcfd) on October 12, the LSEG data showed.

The plant can turn around 0.8 bcfd of gas into LNG. Plants often pull in more gas than they can turn into LNG since they use some of the fuel to run equipment.

One billion cubic feet is enough to supply about 5 million U.S. homes for a day.

U.S. LNG export plants typically shut for planned maintenance in the spring or autumn when global demand for gas for heating or cooling is lower than during the peak winter and summer months.

Berkshire Hathaway Energy is a unit of U.S. multinational conglomerate Berkshire Hathaway BRKa.N.

Berkshire Hathaway Energy operates Cove Point and owns 75% of the facility. The other 25% is owned by units of Brookfield Asset Management BAMa.TO.

Cove Point's LNG is sold under 20-year agreements to a subsidiary of GAIL (India) GAIL.NS and to ST Cove Point, which is a joint venture between units of Japanese trading company Sumitomo 8053.T and Tokyo Gas 9531.T.

(Reporting by Scott DiSavino in New York; Editing by Kirsten Donovan)

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SINGAPORE, Oct 9 (Reuters) - GAIL (India) GAIL.NS has issued a swap tender, offering two U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for two cargo deliveries to India, two industry sources said on Thursday.

GAIL, India's largest gas distributor, is offering the cargoes for loading on a delivered ex-ship (DES) basis on December 9-10 and January 9-10 at Cove Point, Maryland.

In exchange, GAIL is seeking two cargoes for delivery on a DES basis to the Dabhol terminal on December 24-31 and January 1-10.

The tender closes on October 9, the sources added.

(Reporting by Emily Chow; Editing by Sumana Nandy)

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Sept 25 (Reuters) - GAIL (India) Ltd GAIL.NS:

• MNJPL PROJECT NEARS COMPLETION, FULL COMMISSIONING BY 31ST DECEMBER 2025

Source text: [ID:]

Further company coverage: GAIL.NS

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** Gail (India) GAIL.NS up about 3% this week, set for best week since June 27

** J.P.Morgan ("Neutral", PT: 186 rupees) expects new pipeline tariffs by Oct 30; GAIL seeks hike to 78 from 58 rupees/mmbtu

** Brokerage estimates higher tariffs could boost annual EBITDA by 34 bln rupees ($385.13 million)

** Citi ("Buy", PT: 220 rupees) says potential GAIL Gas listing could unlock 5-6% value but tariff hike remains "key catalyst"

** Avg rating of 32 analysts is "buy"; median PT of 215 rupees - data compiled by LSEG

** Stock down nearly 6% YTD

($1 = 88.2830 Indian rupees)

(Reporting by Urvi Dugar)

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Sept 10 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL (INDIA) LTD - UPDATES ON ARBITRATION PROCEEDINGS AGAINST FOCUS ENERGY

• GAIL (INDIA) LTD - FOCUS ENERGY HAS MADE COUNTER CLAIMS OF 5.29 BILLION RUPEES AGAINST GAIL

• GAIL (INDIA) LTD - FOCUS ENERGY, OTHERS DENIED ALL CLAIMS BY GAIL

• GAIL - FOCUS ENERGY DENIED ALL CLAIMS MADE BY GAIL

Source text: ID:nNSE5Ydhzt

Further company coverage: GAIL.NS

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July 28 (Reuters) - Gas distributor GAIL (India) GAIL.NS posted a bigger-than-expected fall in quarterly profit on Monday, as higher raw material costs weighed on stable demand.

GAIL, India's top natural gas distributor by market share, said its net profit after tax fell 30.8% to 18.86 billion rupees ($217.67 million) for the quarter ended June 30.

Analysts, on average, had expected profit to fall 26.6% to 19.99 billion rupees, according to data compiled by LSEG.

A 3.3% rise in the company's revenue during the quarter was outweighed by a 22.66% jump in raw material costs, which drove total expenses up by 7%.

In April, the Indian government reduced the allocation of low-cost domestic natural gas to city gas distributors, due to a decline in output from domestic producers.

India's natural gas production dropped by 0.9% year-on-year in April, followed by further declines of 3.6% in May and 2.8% in June.

To keep supplies steady, city gas firms turned to costlier gas sources.

The gas marketing segment, GAIL's largest revenue contributor through wholesale trading and natural gas distribution, reported a 5.3% rise to 310.03 billion rupees.

Revenue from its natural gas transmission segment, through which GAIL holds a 70% market share in the country, fell 2.1%.

Shares of GAIL fell 1.6% ahead of the results.

($1 = 86.6450 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Shailesh Kuber)

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July 25 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL (INDIA) LTD - PNGRB AUTHORIZES JLPL CAPACITY EXPANSION TO 6.5 MMTPA

Source text: ID:nNSE863JyM

Further company coverage: GAIL.NS

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By Nidhi Verma

NEW DELHI, July 16 (Reuters) - India's state-run GAIL GAIL.NS is in initial talks to buy liquefied natural gas from the proposed Alaska LNG project as the South Asian nation expands its import capacity, three industry sources with knowledge of the matter said.

The talks with developer Glenfarne come as India works to raise its energy imports from the United States to narrow its trade surplus as part of a broader trade agreement with Washington to avoid the imposition of hefty U.S. tariffs.

GAIL's discussions are preliminary as the landed cost of LNG will be a crucial deciding factor for the deal, the sources said.

Glenfarne said last month that 50 firms had formally expressed interest in contracts with Alaska LNG. The project, championed by U.S. President Donald Trump, has been stuck on the drawing board for more than a decade.

GAIL did not respond to Reuters email seeking comment on the talks.

"Glenfarne does not comment on or confirm individual commercial negotiations, but Alaska LNG’s growing commercial momentum reflects the project’s competitive economic and geostrategic advantages," it said in an emailed statement to Reuters.

India, the world's fourth-largest LNG importer, aims to increase the share of gas in its energy mix to 15% by 2030, up from about 6% currently, to reduce its carbon footprint.

GAIL plans to increase the capacity of its 5 million metric tons per year Dabhol LNG terminal to 6.3 million tons per year by mid-2027 and to 12.5 million tons per year by 2031-32.

Earlier this year GAIL invited initial bids from companies as it seeks to buy equity in an existing LNG project or a new project that would be commissioned by 2030 at the latest.

The $44-billion Alaska LNG project could export up to 20 million metric tons per year of the superchilled gas. Alaska Governor Mike Dunleavy said in March the project could start exporting LNG by 2030.

Glenfarne expects to make a final investment decision in the fourth quarter of this year on the first phase of the project - a 765-mile (1231-km) pipeline to deliver gas from the state's far north to its Anchorage region.

Thailand's state-owned oil and gas giant PTT PTT.BK last month signed a 20-year agreement to buy 2 million tons per year of LNG from the Alaska LNG project.

Others, including South Korea and Japan's top power producer JERA, are awaiting clarity on the financing and cost of the project.

GAIL has contracts to buy 15.5 million tons annually of LNG including 5.8 million tons from the United States.

(Reporting by Nidhi Verma in New Delhi; Additional reporting by Curtis Williams in Houston; Editing by Sonali Paul)

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July 9 (Reuters) - GAIL (India) Ltd GAIL.NS:

• SIGNS 15-YEAR GAS SALE AND PURCHASE AGREEMENT WITH OIL INDIA

• DEAL TO SUPPLY UPTO 900,000 SCMD OF NATURAL GAS FROM OIL INDIA'S RAJASTHAN FIELDS

Source text: [ID:]

Further company coverage: GAIL.NS

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** Gail (India) GAIL.NS rises 2.2% to 190.8 rupees

** Petroleum and Natural Gas Regulatory Board (PNGRB) expected to hike pipeline tariff at its next board meeting, with Gail expecting a 20% rise

** Jefferies says a 10%–20% hike would boost profitability, support valuation expansion

** Reiterates "buy" at PT of 210 rupees, implying a 14% upside

** Says tariff hike could lift PT to 235 rupees-245 rupees

** GAIL trades at 11.8x 12-month forward P/E, in line with its long-term average; Jefferies sees risk-reward as favourable

** ICICI Securities expects 14%-16% transmission tariff hike, boosting profit

** Stock rated "buy" on avg; median PT is 220 rupees, per data compiled by LSEG

** YTD, GAIL falls 2.2%, underperforming Nifty energy index's .NIFTYENR 4.2% rise

(Reporting by Bharath Rajeswaran in Bengaluru)

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June 6 (Reuters) - GAIL (India)'s GAIL.NS Dabhol LNG Terminal in the western state of Maharashtra received its first liquefied natural gas (LNG) cargo during the traditionally disruptive monsoon rains on June 2, the gas transporter said on Friday.

This marks the start of year-round operations at the terminal, the company said in a press release.

The commissioning of a breakwater facility — structures that protect a port against high tides — at the terminal last month allows ships to dock safely and allow it to function as an "all-weather port".

Earlier, the terminal used to be shut for four months during the rainy season.

GAIL expects the breakwater to "significantly enhance vessel accessibility and improve capacity utilization at the terminal".

The company plans to expand the facility's capacity from 5 to 6.3 million-metric-tonnes-per-annum in the next three years, allowing it to handle up to 100 LNG cargoes annually, it added.

GAIL shares were last up 0.3% on Friday.

(Reporting by Aleef Jahan in Bengaluru; Editing by Harikrishnan Nair)

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May 13 (Reuters) - Gas distributor GAIL (India) GAIL.NS posted a bigger-than-expected fall in quarterly profit on Tuesday, dragged by lower gas marketing margins and higher costs.

GAIL, India's top natural gas distributor by market share, said its net profit after tax fell 5.9% to 20.49 billion rupees ($240.1 million) for the quarter ended March 31.

Analysts, on average, had expected profit to fall 3.1% to 21.13 billion rupees, according to data compiled by LSEG.

The gas marketing segment, which generates most of the company's revenue through wholesale trading and natural gas distribution, posted a rise of 11% to 316.03 billion rupees in revenue.

Analysts noted that trading margins were lower in the quarter as GAIL switched to long-term LNG contracts with city gas distributors, replacing short-term market sales.

LPG margins are also down due to reduced availability of government-regulated feedstock, they added.

Rising costs in its liquefied petroleum gas (LPG) and liquid hydrocarbon businesses added to the pressure, with overall expenses climbing 11.4%.

Revenue from its natural gas transmission segment, in which GAIL holds a 70% market share in the country, fell 2.6%.

The company's revenue from operations rose by 10.4% to 357.07 billion rupees.

Shares of GAIL fell 1.8% after the results.

($1 = 85.3360 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Sherry Jacob-Phillips and Janane Venkatraman)

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April 23 (Reuters) -

• BUYERS INCLUDING GAIL INDIA LTD. AND INDIAN OIL CORP. CANCELED LNG PURCHASE TENDERS DUE TO HIGH PRICES- BLOOMBERG NEWS

Source text: https://tinyurl.com/6n35srhu

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By Nidhi Verma

NEW DELHI, April 11 (Reuters) - GAIL India Ltd GAIL.NS issued a tender on Friday to buy an up to 26% stake in a liquefied natural gas project in the United States combined with a 15-year gas import deal, aiding New Delhi's efforts to narrow its trade surplus with Washington.

India is racing to become one of the first to agree a trade deal with the United States, as President Donald Trump's announcement of sweeping tariffs has triggered a trade war with China and efforts by other countries to negotiate.

Trump has made clear he regards U.S. gas as a bargaining chip.

India's largest gas distributor GAIL has invited initial bids from companies as it seeks to buy equity in an existing LNG liquefication project or a new project that would be commissioned by 2030 at the latest, the document published on its website showed.

The United States is already the second biggest supplier to India, one of the fastest growing economies in the world. Qatar is the biggest LNG supplier to India.

State-run GAIL wants 1 million metric tons per year of LNG from a plant in the U.S. on a free-on-board basis for a period of 15 years, it said, adding the deal could be extended by five to 10 years.

The document also showed GAIL wants to start taking LNG from the U.S. project by 2029-2030. The last date for the U.S. projects to submit bids is April 28.

To boost its U.S. energy imports, India is also considering scrapping its import tax on U.S. LNG to make it more price competitive, and help trim its $45.7 billion trade surplus with the U.S.

GAIL had to stall a similar process in 2023 to buy a stake in a U.S. LNG plant after then-President Joe Biden banned export permits for pending and new LNG projects.

The Indian company has revived the tender as Trump's administration has lifted the ban.

India is the world's fourth largest LNG importer and aims to raise the share of gas in the country's energy mix to 15% by 2030 from 6.2% now.

GAIL has contracted to buy 15.5 million tons annually of LNG, including supplies from the Australia, Qatar and the United States and traders Vitol and Adnoc, according to its annual report for 2023-24.

Its long-term deals with companies in the U.S. include the purchase of 5.8 million tons per year of LNG, split between Berkshire Hathaway Energy's Cove Point plant and Cheniere Energy's LNG.N Sabine Pass site in Louisiana.

(Reporting by Nidhi Verma; editing by Barbara Lewis)

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April 10 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - GAIL COMPLETES LAYING OVER 97.6 % OF PRADHAN MANTRI URJA GANGA

• GAIL - COMMERCIAL OPERATIONS STARTED IN 96.6% OF COMPLETED PIPELINE

• GAIL (INDIA) - COMPLETION OF DURGAPUR-HALDIA, DHAMRA-HALDIA SECTIONS EXTENDED TO DECEMBER 2025

Further company coverage: GAIL.NS

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April 8 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL (INDIA) LTD - INCORPORATES WHOLLY OWNED SUBSIDIARY IN GIFT CITY, GUJARAT

Source text: ID:nNSE7kRMhw

Further company coverage: GAIL.NS

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April 3 (Reuters) - Surya Roshni Ltd SURR.NS:

• RECEIVES 1.16 BILLION RUPEES ORDER FROM GAIL

Further company coverage: SURR.NS

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By Nidhi Verma and Manoj Kumar

NEW DELHI, March 28 (Reuters) - India is considering a proposal to scrap import tax on U.S. liquefied natural gas (LNG) to boost purchases and help cut the trade surplus with Washington, a key irritant for President Donald Trump, four government and industry sources said.

The United States is India's second biggest supplier but the two sides are looking to ramp up volumes for India's energy-hungry economy, one of the fastest growing in the world.

During Prime Minister Narendra Modi's U.S. visit last month, India pledged to increase U.S. energy purchases by $10 billion to $25 billion in the near future, while both leaders agreed to target $500 billion in bilateral trade by 2030.

Scrapping the import tax would make U.S. LNG more price competitive, and help trim India's trade surplus with the U.S., another government source said. The surplus totalled $45.4 billion last year.

"We are considering ending the imports tax on U.S. LNG under the bilateral trade agreement, similar to our model with the UAE," one of the sources familiar with the matter said.

India currently imposes a 2.5% basic customs duty and an additional 0.25% social welfare tax on LNG, but tax is not levied on supplies from the United Arab Emirates (UAE) and Australia under bilateral agreements.

The sources spoke on condition of anonymity due to the senstivity of the talks. India's oil and finance ministries did not immediately respond to emailed requests for comment.

Unlike Canada and the European Union, India is actively seeking to appease the Trump administration as it ratchets up pressure on trading partners, and is open to cutting tariffs on over half of U.S. imports worth $23 billion, Reuters reported earlier this week.

Also, China's 15% import tax imposed last month on LNG imports from the U.S. could divert trade of the super-chilled fuel to India, where the International Energy Agency expects a 60% jump in gas use between 2023 and 2030, with imports of LNG doubling over that period.

BIG LNG BUYER

India, the world's fourth-biggest LNG importer, imported 25.9 million tonnes of LNG worth about $14.2 billion in the first 11 months of the current fiscal year to March 31, government data showed.

LNG imports are on track to average about 27-28 million tonnes in this fiscal year, with U.S. supplies accounting for 20%-25% of that, a third source said.

India's U.S. LNG imports are driven by state-run GAIL (India) Ltd's GAIL.NS long term deals with U.S. companies to buy 5.8 million tons of LNG annually.

GAIL has also said it would revive plans to buy a stake in a U.S. LNG plant or secure a long-term U.S. LNG deal after Washington lifted a ban on export permits for new projects, part of Trump's agenda to maximise U.S. energy development.

Indian companies including GAIL, Indian Oil Corp IOC.NS, and Bharat Petroleum Corp BPCL.NS are talking to U.S. companies for additional LNG sourcing, Oil Secretary Pankaj Jain said last month.

India's oil ministry has asked companies to raise energy imports, wherever possible, a government source said.

Apart from LNG, India can also raise U.S. imports of petrochemicals, ethane, propane and butane, the source said.

(Reporting by Nidhi Verma and Manoj Kumar
Editing by Tony Munroe, William Maclean)

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March 26 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - PNGRB APPROVAL FOR CAPACITY AUGMENTATION OF DAHEJ-URAN-DABHOL-PANVEL GAS PIPELINE

Source text: ID:nnAZN3M2NSX

Further company coverage: GAIL.NS

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GAIL (India) Ltd GAIL.NS:

• GAIL- REDUCTION OF ZONES AS PER PETROLEUM REGULATOR'S PROPOSAL MAY NOT IMPACT PIPELINE COMPANIES

Source text: ID:nBSE8Xn5b8

Further company coverage: GAIL.NS

** Shares of Gail GAIL.NS rise 3.6% to 174.6 rupees

** Analysts at Motilal Oswal see limited downside to stock due to strong transmission growth, stable marketing outlook, and diverse petrochemical portfolio

** Expect transmission and marketing volumes to grow at 7% compound annual growth rate over FY24-FY27 - brokerage

** Adds, co's earnings will get boost as its petrochemical capacity will expand from 810 KTPA to ~2.7 MMTPA by FY27 with new projects set to commence

** Motilal Oswal reiterates "buy" rating; maintains TP of 195 rupees per share

** 31 analysts covering stock on avg have a "buy" rating; median PT is 215 rupees - data compiled by LSEG

** Stock up ~8% so far this month, on track to snap five month losing streak

(Reporting by Ashna Teresa Britto in Bengaluru)

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March 19 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - CAPITAL EXPENDITURE FY 2025-26E AT ABOUT $985 MILLION

• GAIL - CAPITAL EXPENDITURE FY 2024-25E AT ABOUT $1.17 BILLION

Source text: [ID:]

Further company coverage: GAIL.NS

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SINGAPORE, March 17 (Reuters) - GAIL (India) Ltd GAIL.NS has issued a swap tender offering six liquefied natural gas (LNG) cargoes for loading in the United States in exchange for six cargoes to be delivered to India, two industry sources said on Monday.

GAIL, India's largest gas distributor, is offering the cargoes for loading on a free-on-board (FOB) basis from Sabine Pass, one for each month from July to December 1-10, in 2028.

In exchange, the company is seeking the cargoes for delivery to the Dabhol terminal on a delivered ex-ship (DES) basis, one for each month from July to December 21-30, in 2025.

The tender closes on April 21, added one of the sources.

GAIL has a 20-year deal to buy 3.5 million metric tons of U.S. LNG from Cheniere Energy's Sabine Pass site in Louisiana.

(Reporting by Emily Chow; Editing by Rashmi Aich)

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SINGAPORE, March 4 (Reuters) - GAIL (India) GAIL.NS has issued a tender seeking nine cargoes of liquefied natural gas (LNG) to be delivered over three years, two industry sources said on Tuesday.

India's largest gas distributor is seeking three LNG cargoes for delivery on May 16-22, June 6-12 and July 1-7 this year, with submissions due on March 7.

It is also seeking six LNG cargoes in two shipments, with delivery dates of April 24-30, May 16-22 and June 1-7 in 2026 and the same dates in 2027, with submissions due on March 27.

(Reporting by Emily Chow; Editing by Varun H K)

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March 3 (Reuters) - Cummins Inc CMI.N:

• ACCELERA AND GAIL PARTNER TO ADVANCE GREEN HYDROGEN PRODUCTION, TRANSPORTATION AND STORAGE

• ACCELERA: COLLABORATION TO ALSO SHARE KNOWLEDGE ON HYDROGEN BLENDING WITH NATURAL GAS, EXPLORE NEW APPLICATIONS FOR GREEN HYDROGEN TECH

Source text: ID:nBwbglx21a

Further company coverage: CMI.N

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By Sethuraman N R

NEW DELHI, Feb 13 (Reuters) - India's Adani Total has yet to conduct feasibility studies to double the capacity of its LNG terminal in Dhamra, Chief Executive Surjeet Singh Lamba told Reuters on Thursday, a year after the joint venture announced it was in the early stages of planning a possible expansion.

Lamba said the 5 million tons per annum (mtpa) LNG terminal on India's east coast, in which French energy giant TotalEnergies SE TTEF.PA has a 50% stake alongside the Adani Group, operated at an average utilisation rate of 25% in 2024.

Utilisation has since risen to about 50%, the CEO said. Usage has been low because the terminal has been unable to attract new customers after locking state-run firms Indian Oil Corp IOC.NS, and GAIL (India) Ltd GAIL.NS into 20-year take-or-pay contracts in 2023.

Lamba said the expansion was contingent on demand, and when asked about the potential for growth in LNG demand, he pointed to Prime Minister Narendra Modi's target to more than double the share of natural gas to 15% of India's energy mix by 2030.

"It depends upon the requirement of the users, as in, when we get some business potential," he said.

"Once feasibilty (study) is done, only then we will be able to comment on that (expansion)," Lamba told Reuters on the sidelines of the India Energy Week.

He did not comment on any financing plans.

TotalEnergies said last year it would pause investing in the Adani Group after U.S. prosecutors accused officials from the conglomerate, including its billionaire Chairman Gautam Adani, of corruption.

(Writing by Sudarshan Varadhan;Editing by Elaine Hardcastle)

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By Nidhi Verma and Sethuraman N R

NEW DELHI, Feb 10 (Reuters) - GAIL India Ltd GAIL.NS will seek to buy a stake in a U.S. liquefied natural gas plant or secure long-term U.S. LNG supply after the Trump administration lifted a ban on export permits for new projects, chairman Sandeep Kumar Gupta said.

"Their (Washington's) decision to lift the ban will improve LNG supply and we will revive our plans to either buy a stake or buy U.S. LNG under long-term deals," Gupta told Reuters ahead of the India Energy Week.

He said the company would make a decision after holding a tendering process for long-term LNG purchases.

India is the world's fourth largest LNG importer and aims to raise the share of gas in the country's energy mix to 15% by 2030 from 6.2% currently. GAIL is India's top gas distributor.

GAIL had to stall its 2023 process to buy a stake of up to 26% in an LNG plant in the United States after then-President Joe Biden paused approvals for pending and future applications to export LNG from new projects.

Gupta said global LNG prices could soften after 2026 as new projects are expected to come on stream in the U.S. and elsewhere, adding to supply.

Asia spot LNG prices LNG-AS hit a two-month high last week at close to $15 per million British thermal units, tracking a rally in European gas prices. Ample supply will be coming from the U.S. and Qatar later this decade to cap prices, analysts say. LNG/

The U.S. is expected to nearly double its LNG export capacity by the end of the decade, while Qatar plans to expand its liquefaction capacity to 142 million metric tons per year by 2027 from 77 million.

Gas consumption in India is expected to rise to over 500 million standard cubic metres a day (mmscmd) by 2030, Indian oil minister Hardeep Singh Puri said last year.

India's gas consumption rose by about 12.5% to about 185 mmscmd in fiscal year 2024 from the previous year, according to the oil ministry's Petroleum Planning and Analysis Cell.

Gupta said India's consumption will increase sharply if the government brings gas into the goods and services tax regime, instead of the multiple taxes on gas at present, to make prices cheaper and uniform across the country.

GAIL has contracted to buy 15.5 million tpy of LNG including supplies from the U.S., Qatar, Australia, and traders Vitol and Adnoc, according to its annual report for 2023-24.

Its long-term deals with companies in the U.S. include the purchase of 5.8 million tpy LNG, split between Berkshire Hathaway Energy's Cove Point plant and Cheniere Energy's LNG.N Sabine Pass site in Louisiana.

It also awarded a five-year tender to Qatar for the purchase of one LNG cargo a month from April, sources said in December.

(Reporting by Nidhi Verma and Sethuraman NR; Editing by Sonali Paul)

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SINGAPORE, Feb 4 (Reuters) - GAIL (India) Ltd GAIL.NS has issued a swap tender offering 12 liquefied natural gas (LNG) cargoes for loading in the United States in exchange for 12 cargoes to be delivered to India in 2026, two industry sources said on Tuesday.

GAIL, India's largest gas distributor, is offering the cargoes for loading, one in each month of the year, from Sabine Pass on a free-on-board (FOB) basis.

In exchange, the company is seeking the cargoes for delivery to the Dhamra terminal on a delivered ex-ship (DES) basis in the same timeframe.

The swap tender closes on Feb. 19.

(Reporting by Emily Chow; Editing by Sherry Jacob-Phillips)

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