GAIL

** 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:

• SEEKING 3 LNG CARGOES PER YEAR FOR 3 YEARS IN TENDER CLOSING APRIL 2

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)

(([email protected]; Reuters Messaging: [email protected]))

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)

(([email protected]; Reuters Messaging: [email protected]))

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 Manoj Kumar

NEW DELHI, Feb 10 (Reuters) - Indian Prime Minister Narendra Modi, on a two-day U.S. visit starting Wednesday, is expected to propose tariff cuts and increased energy and defence imports during a meeting with U.S. President Donald Trump.

Modi is keen to avert a potential trade war and boost trade ties after Trump threatened reciprocal tariffs on many countries, including a 25% tariff on all steel and aluminium imports.

Here are key issues likely to be discussed during the bilateral meeting:

ENERGY IMPORTS

India plans to propose increasing energy products imports from the United States, estimated at over $11 billion in first eleven months of 2024, to alleviate trade imbalances.

As the world's fourth largest importer of liquefied natural gas (LNG), India may push its oil companies to purchase more U.S. LNG, buoyed by the Trump administration's lifting of export permit bans for new projects.

State-run GAIL India Ltd GAIL.NS is aiming to acquire a stake in a U.S. LNG plant or to secure long-term supply deals, company chairman Sandeep Gupta has said.

DEFENCE IMPORTS

India will likely negotiate the purchase and co-production of combat vehicles and finalise a fighter jet engine deal during Modi's visit.

Protracted talks have been ongoing between India and the U.S. over the co-production of General Dynamics' GD.N Stryker combat vehicles.

Officials from India's state-owned Hindustan Aeronautics Ltd (HAL) HIAE.NS are set to meet with U.S. officials and General Electric's GE.N, aerospace unit in the coming weeks to finalise the deal.

ILLEGAL MIGRATION

The countries are expected to discuss the deportation of illegal Indian immigrants by the U.S. administration, and India's concerns about their treatment.

Mukesh Agi, president of the US-India Strategic Partnership Forum (USISPF), said the industry is addressing the misuse of H-1B visas while seeking an increase in legal migration to meet the United States' professional shortage.

MARKET ACCESS AND LEVEL PLAYING FIELD

U.S. officials and industry representatives are likely to raise the issue of "market access and a level-playing field" for U.S. businesses, citing higher import tariffs on certain goods.

Elon Musk is expected to meet with Modi to discuss bringing Tesla's cars to India and expediting the allocation of satellite spectrum for his Starlink project.

INVESTMENT BY INDIAN COMPANIES

India will likely propose facilitating investments by Indian companies in the U.S., highlighting their billion-dollar investments in steel, garment, and contact manufacturing sectors.

STRENGTHENING STRATEGIC TIES

Indian officials and industry groups are optimistic Modi's visit will enhance strategic and economic ties with the United States.

New Delhi aims to attract increased investments from U.S. companies in manufacturing and services, including the insurance sector, amid escalating threats from China.

(Reporting by Manoj Kumar
Editing by Christina Fincher)

(([email protected]; +919810286200; Twitter:@manojgulnar;))

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)

(([email protected]; Reuters Messaging: [email protected]))

Jan 30 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL INDIA EXEC: HOPES TO SUPPLY 129-130 MMSCMD GAS IN MARCH QUARTER

• GAIL EXEC: SCOUTING FOR MORE LNG IMPORT DEALS

• GAIL EXEC: EXPECTS TO BUILD BREAKWATER FACILITY AT RATNAGIRI LNG IMPORT TERMINAL BY MARCH 2025

Source text: [ID:]

Further company coverage: GAIL.NS

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Jan 23 (Reuters) - GAIL (India) Ltd GAIL.NS:

• NON-BINDING MOU WITH YPF WAS SIGNED BY GAIL (INDIA) ALONG WITH TWO OTHER ENTITIES

Source text: ID:nNSE69RdSB

Further company coverage: GAIL.NS

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Jan 21 (Reuters) - GAIL (India) Ltd GAIL.NS:

• SEBI ISSUES ADMINISTRATIVE WARNING TO CO

• ADMINISTRATIVE WARNING FOR DELAY OF 1 DAY IN DISCLOSURE OF 3QFY24 EARNINGS CALL

Source text: ID:nBSE4nHzD8

Further company coverage: GAIL.NS

(([email protected];;))

** Shares of gas transmission and marketing co GAIL (India) GAIL.NS rise 1.8% to 181.13 rupees

** Stock set to gain for third straight session

** GAIL and SEFE Marketing & Trading Singapore settle arbitration in London Court, with SEFE to pay GAIL $285 mln

** GAIL rose 17.8% in 2024 vs 68.8% gains in 2023

(Reporting by Vijay Malkar)

(([email protected];))

Jan 15 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL (INDIA) LTD - CO AND SEFE ENTER SETTLEMENT AGREEMENT

• GAIL (INDIA) LTD - SEFE TO PAY GAIL $285 MILLION IN SETTLEMENT

Source text: ID:nNSE7DwJXN

Further company coverage: GAIL.NS

(([email protected];))

** Shares of city gas distributor Indraprastha Gas IGAS.NS ends 4.1% higher

** IGAS says GAIL GAIL.NS increases domestic gas allocations by 31% with effect from Jan. 16

** Says the increase to have positive impact on profitability

** IGAS fell as much as ~25% after co flagged issues with gas allocation in Nov, but has recovered since

** GAIL ends session ~4% lower

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Dec 19 (Reuters) -

• INDIA OIL MINISTRY: HD KOREA SHIPBUILDING & OFFSHORE ENGINEERING EXPRESSED INTEREST IN JOINING INDIAN OIL & GAS COS FOR SHIPBUILDING

Further company coverage: 009540.KS

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DUBAI, Dec 16 (Reuters) - Qatar has agreed a deal to supply India's top natural gas distributor GAIL GAIL.NS with liquefied natural gas for five years, three sources familiar with the matter said on Monday.

QatarEnergy Trading will ship one cargo a month to GAIL starting in April, the sources said.

The gas will be priced at around 115% of Henry Hub plus $5.5-$6 per million British thermal units (mmBtu), the sources said.

QatarEnergy and GAIL did not immediately respond to requests for comment.

India is boosting gas imports as Prime Minister Narendra Modi aims to raise the share of gas in the country's energy mix to 15% by 2030 from about 6.5% now.

Qatar, among the world's top LNG exporters, is India's biggest LNG supplier.

The small Gulf country is pushing to play a larger role in Asia and Europe as competition from top supplier the United Sates increases. It plans to expand its liquefaction capacity to 142 million tons per year by 2027 from 77 million.

(Reporting by Nidhi Verma; Writing by Yousef Saba; Editing by Kirsten Donovan)

(([email protected]; +971562166204; https://x.com/YousefSaba))

** Shares of Godawari Power and Ispat GDPI.NS rise 6.1% to 248.48 rupees

** The iron and steel products maker enters into agreement with GAIL (India) GAIL.NS for supply of regasified liquefied natural gas for its upcoming pellet plant for 7 years

** Trading vols at 9.5 mln, 4.9x 30-day average

** Stock set to gain for ninth straight session

** GDPI up ~64% YTD

(Reporting by Vijay Malkar)

(([email protected];))

Dec 11 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GODAWARI POWER AND ISPAT - ENTERS INTO AGREEMENT WITH GAIL FOR SUPPLY OF RLNG GAS

Source text: ID:nnAZN2SZNLG

Further company coverage: GAIL.NS

(([email protected];))

Dec 4 (Reuters) - Railtel Corporation of India Ltd RAIT.NS:

• RAILTEL CORPORATION OF INDIA LTD - SECURES ORDER FROM GAIL INDIA WORTH 106.5 MILLION RUPEES

Source text: ID:nNSE1KzV49

Further company coverage: RAIT.NS

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Nov 29 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL SIGNS LONG-TERM CHARTER CONTRACT WITH “K” LINE FOR LNG SHIP

• TWO MORE SHIPS EXPECTED TO JOIN GAIL FLEET NEXT YEAR

• VESSEL EXPECTED TO START OPS IN 2027

Source text: ID:nnAPN2FH44E

Further company coverage: GAIL.NS

(([email protected];;))

Nov 28 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL - RE-ENGAGES PROCESS LICENSOR FOR REVIVAL OF PTA MANUFACTURING PLANT IN MANGALORE

• GAIL - AMENDMENT AGREEMENT SIGNED WITH INEOS

• GAIL - AMENDED AGREEMENT WITH INEOS TO ENHANCE PLANT EFFICIENCY

Source text: [ID:]

Further company coverage: GAIL.NS

(([email protected];;))

By Mohd Edrees

Nov 15 (Reuters) - Stock markets in the United Arab Emirates rose on Friday, with Abu Dhabi's index outperforming on a rise in the shares of its largest listed firm International Holding Company (IHC) IHC.AD.

Abu Dhabi's benchmark index .FTFADGI settled 0.5% higher, lifted by a 1.2% rise in IHC shares and a 2.1% gain for Adnoc Gas ADNOCGAS.AD, which signed a 10-year LNG sales and purchase agreement with India's GAIL on Thursday.

IHC extended the previous session's 1.5% rise after launching a share buyback programme worth 5 billion dirhams ($1.36 billion).

A first tranche of 1.8 billion dirhams, equal to 36% of the total, is expected to launch on Nov. 18, IHC said in a statement.

Defence contractor Abu Dhabi Ship Building ADSB.AD added 7.9% for its biggest intraday gain in nearly 3-years, after reporting a doubling in third-quarter revenue to 339 million dirhams while profit for the three months was up more than 600% year-on-year.

Dubai's main index .DFMGI edged up 0.2%, supported by a 3.2% rise in Emaar Development EMAARDEV.DU and 1.2% gain for utility firm Dubai Electricity and Water Authority DEWAA.DU.

Multi-line insurer National General Insurance NGIN.DU advanced 6.3% after reporting nearly threefold growth in quarterly net profit to 50.5 million dirhams.

Crude prices slipped on worries about waning Chinese demand and expectations of fewer U.S. Federal Reserve interest rate cuts, with Brent crude LCOC1 down 0.39% to $72.28. O/R

The Dubai index closed up for a sixth straight week, adding 2.2%, while Abu Dhabi's index snapped two weeks' of gains, nudging down 0.1%, according to LSEG data.

($1 = 3.6729 UAE dirham)

(Reporting by Mohd Edrees in Bengaluru; Editing by Kirsten Donovan)

(([email protected]))

Nov 14 (Reuters) - India's top gas pipeline utility GAIL GAIL.NS on Thursday said it signed a 10 year sale and purchase agreement with UAE's ADNOC Gas ADNOCGAS.AD for delivery of up to 0.52 million metric tonnes per annum of LNG, starting 2026.

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]; 8800437922;))

SINGAPORE, Nov 8 (Reuters) - GAIL (India) GAIL.NS is seeking 60 cargoes of liquefied natural gas (LNG) for delivery over a five-year period, two industry sources said on Friday.

India's largest natural gas distributor is seeking one LNG cargo a month to be delivered from April 2025 to March 2030 at a price linked to U.S. benchmark Henry Hub, the sources said.

One of the sources added that GAIL is seeking the cargoes for delivery to the Dahej, Hazira and Dabhol terminals in a tender that closes on Nov. 13.

(Reporting by Emily Chow
Editing by David Goodman
)

(([email protected]; Reuters Messaging: [email protected]))

** GAIL (India) GAIL.NS rises as much as 6.9% to 209.99 rupees; sharpest intraday pct gain since June 6

** The natural gas distributor posts bigger-than-expected Q2 profit

** Jefferies says new pipelines driving GAIL's market share gains and sees this continuing as more pipelines are commissioned by mid-CY25

** Upgrades to "buy" from "underperform"; raises PT to 240 rupees from 190 rupees

** More than 27.2 mln shares traded, 1.9x the 30-day avg

** Stock rated "hold" on avg; median PT is 250 rupees - LSEG

** GAIL last up 5.9%, extending YTD gains to 28.4%

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Nov 5 (Reuters) - GAIL (India) Ltd GAIL.NS:

• Q2 NET PAT 26.72 BILLION RUPEES; IBES PROFIT EST. 25.99 BILLION RUPEES

• Q2 REVENUE FROM OPERATIONS 329.31 BILLION RUPEES

Source text: [ID:]

Further company coverage: GAIL.NS

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

• GAIL AND VERBIO INDIA SIGN MOU

• GAIL AND VERBIO INDIA SIGN MOU TO DEVELOP AGRICULTURAL RESIDUE-BASED CBG PROJECTS

Source text for Eikon: [ID:]

Further company coverage: GAIL.NS

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Oct 23 (Reuters) - GAIL (India) Ltd GAIL.NS:

• GAIL INDIA EXEC: PLANS TO RAISE 40 BILLION RUPEES BY MARCH 2025

• GAIL INDIA EXEC: MAY RAISE FOREIGN CURRENCY LOANS IF COST IS CHEAPER

• GAIL INDIA EXEC: AIMS TO EXPAND LONG TERM LNG IMPORT PORTFOLIO TO 21 MTPA BY 2030

Source text for Eikon: [ID:]

Further company coverage: GAIL.NS

(([email protected];))

By Andrew Mills, Marwa Rashad, Emily Chow and Yuka Obayashi

Oct 21 (Reuters) - Qatar is finding it hard to agree new deals to supply liquefied natural gas (LNG) to Japan and South Korea as rising competition from the U.S. and elsewhere with more flexible contract terms challenges Doha's decades-old dominance of the market.

Qatar was once the top LNG supplier to Japan and South Korea, but buyers are showing preference for supplies from the United States, the United Arab Emirates and Oman. These suppliers all offer shorter-term contracts and unlike Qatar do not restrict the cargoes' final destination.

This gives buyers flexibility to sell cargoes elsewhere in the future if they no longer need the cargoes.

Negotiations between Japanese and South Korean buyers and Qatar have stalled over Qatar's insistence on destination clauses, the sources said.

"The Qataris try to achieve a lot in how they sell their LNG, in terms of retaining control over the market, whereas (others such as) the UAE's ADNOC and Oman are kind of happy to just get a good price," a senior trading source said.

"ADNOC has taken advantage of the current situation, which is that people want diversification of supply," the source added.

If state-owned QatarEnergy (QE) does not sign new agreements with Japan and South Korea - the world's second and third largest LNG importers after China - Qatar's role would be further diminished. It was knocked off the top spot as global LNG supplier by the United States in 2023.

Qatar's major 4.92 million tons-per-year deal to supply Korea Gas Corp (KOGAS) expires this year. Another 2.1 mtpa supply deal expires in 2026, official data showed.

QatarEnergy said it does not comment on market speculation.

Japan's LNG demand is falling due to nuclear reactor restarts, more renewable energy and a slowing economy. Imports fell to 66 million metric tons in 2023, from 83 tons in 2018, Japan customs data shows.

Qatar's market share in Japan fell to 4% in 2023 from 12% in 2018. Meanwhile, the United States' share in Japan rose to 8% from 3% during the same period.

Qatar's share of South Korea's market fell to 19% in 2023 from 32% in 2018, with Australia's share rising to 24% from 19% and Malaysia's growing to 13% from 8% in the same period, data from consultancy Energy Aspects showed.

TOUGH TALKS

QatarEnergy is working to sign deals to supply European and Asian buyers with fresh supplies of LNG expected to come onstream from its North Field expansion, which will boost its overall production by 85%.

Chief Executive Saad Al-Kaabi said that he sees a bright future for LNG for at least 50 years, especially in Asia.

Between 2022-2023, QatarEnergy agreed a series of 27-year deals to supply Chinese buyers with new gas from North Field.

Taiwan and Kuwait have also signed up for more LNG since Qatar announced the latest expansion. But little else has been sold. Analysts estimate around 48% of total Qatar LNG from North Field and its project in the United states has no contract.

Meanwhile, ADNOC and Oman have struck long-term deals with buyers from Japan, China and India.

Another sticking point for Japan is QatarEnergy's insistence that buyers sign contracts for at least 1 million metric tons per annum (mtpa) for 10-15 years, one of the sources said.

Such terms are at odds with Japan's uncertain long-term LNG outlook because of nuclear power station restarts and renewable energy production, making it challenging for Japanese buyers to commit to long-term LNG deals in case demand falls.

Qatar has shown some flexibility in the negotiations, offering smaller cargoes with flexible terms and a lower price which, for contracts starting in 2028, is around 13% of the price of a barrel of oil per million British thermal units (mmBtu), the same source said.

Japan's JERA did not renew a 5.5 mtpa supply agreement with Qatar when it lapsed in 2021.

"For buyers, being restricted with a destination clause can be challenging, especially when demand decreases, forcing them to find domestic buyers for excess supplies," a Japanese government official said.

"Compared to other gas-producing countries, this puts Qatar at a competitive disadvantage."

Tokyo Gas 9531.T, Japan's largest city gas provider, could buy LNG from Qatar if the economics, contract flexibility and timing are right, said senior general manager for LNG Yumiko Yao. "Those factors will guide our future procurement decisions," she said.

In South Korea, Qatar's 4.92 mtpa supply deal with Korea Gas Corp (KOGAS) expires this year. Another 2.1 mtpa supply deal expires in 2026.

DIGGING IN HEELS

To provide stable revenues, Qatar prefers long-term contracts of up to 27 years - the current lifespan of the North Field expansion project and usually linked to the oil price.

U.S. sellers, ADNOC and Oman generally offer LNG volumes on a free-on-board (FOB) basis, which allows buyers to resell cargoes. Deals are usually linked to U.S. natural gas prices at the Henry Hub benchmark, which tend to be cheaper than contracts linked to oil.

Competition between Qatar and the U.S. intensified following Europe's decision to end dependence on Russian pipeline gas following Moscow's invasion of Ukraine. U.S. exporters filled most of the supply vacuum, surpassing Qatar to establish themselves as the world's biggest LNG exporter in 2023.

In the absence of many credit-worthy buyers signing large and long-term contracts with Qatar's conditions, one option for QatarEnergy could be to sell more supply in the spot market, said Anne-Sophie Corbeau, researcher at Columbia University's Center on Global Energy Policy.

"Now, we have about 39% (of global supplies in) spot and short term, but Qatar could move that to 60% if they were to change. The question is: do they want to?"

(Reporting by Andrew Mills in Doha, Marwa Rashad in London, Emily Chow in Singapore and Yuka Obayashi and Katya Golubkova in Tokyo; Editing by Nina Chestney and Louise Heavens)

(([email protected]; +447823669044; Reuters Messaging: [email protected]/))

SINGAPORE, Oct 7 (Reuters) - GAIL (India) GAIL.NS, the country's biggest natural gas distributor, issued a tender seeking a cargo of liquefied natural gas for delivery in November, two industry sources said on Monday.

It is seeking the cargo on a delivered-ex-ship (DES) basis for Nov. 6-15 delivery to the Dahej terminal. The tender closes on Oct. 7.

(Reporting by Emily Chow; Editing by Jamie Freed)

(([email protected]; Reuters Messaging: [email protected]))