GAIL
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Australia's Ava Risk Group gains on securing contract with India's GAIL
** Shares of Ava Risk Group AVA.AX rise 3.2% to A$0.098
** Stock rose as much as 4.2% to A$0.099 in early trade, its biggest intraday pct gain since April 30
** Technology services provider secures a contract with Indian gas distributor co GAIL (India) Ltd GAIL.NS valued at A$0.9 million
** Contract for deployment of co's fibre-sensing supply detection technology along GAIL'S Kochi-Koottanad-Bangalore-Mangalore gas pipeline
** Stock down 23.1% YTD, including current session's moves
(Reporting by Nikita Maria Jino in Bengaluru)
(([email protected];))
** Shares of Ava Risk Group AVA.AX rise 3.2% to A$0.098
** Stock rose as much as 4.2% to A$0.099 in early trade, its biggest intraday pct gain since April 30
** Technology services provider secures a contract with Indian gas distributor co GAIL (India) Ltd GAIL.NS valued at A$0.9 million
** Contract for deployment of co's fibre-sensing supply detection technology along GAIL'S Kochi-Koottanad-Bangalore-Mangalore gas pipeline
** Stock down 23.1% YTD, including current session's moves
(Reporting by Nikita Maria Jino in Bengaluru)
(([email protected];))
Container Corporation Of India And GAIL Sign MoU
April 24 (Reuters) - Container Corporation of India Ltd CCRI.NS:
CONCOR AND GAIL SIGN MOU
MOU TO DEVELOP LNG INFRASTRUCTURE AT CONCOR TERMINALS
Source text: ID:nBSEmkH8b
Further company coverage: CCRI.NS
(([email protected];;))
April 24 (Reuters) - Container Corporation of India Ltd CCRI.NS:
CONCOR AND GAIL SIGN MOU
MOU TO DEVELOP LNG INFRASTRUCTURE AT CONCOR TERMINALS
Source text: ID:nBSEmkH8b
Further company coverage: CCRI.NS
(([email protected];;))
Indian gas firm GAIL seeks 26% stake in US LNG
US is already India's second-biggest LNG supplier
GAIL stalled similar tender process under President Joe Biden
India is also considering scrapping import tax on US LNG imports
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)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
US is already India's second-biggest LNG supplier
GAIL stalled similar tender process under President Joe Biden
India is also considering scrapping import tax on US LNG imports
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)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Gail (India) Says Completion Of Durgapur-Haldia, Dhamra-Haldia Sections Extended To December 2025
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
(([email protected];))
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
(([email protected];))
Gail (India) Incorporates Wholly Owned Subsidiary In Gift City, Gujarat
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
(([email protected];;))
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
(([email protected];;))
Surya Roshni Receives 1.16 Billion Rupees Order From Gail
April 3 (Reuters) - Surya Roshni Ltd SURR.NS:
RECEIVES 1.16 BILLION RUPEES ORDER FROM GAIL
Further company coverage: SURR.NS
(([email protected];;))
April 3 (Reuters) - Surya Roshni Ltd SURR.NS:
RECEIVES 1.16 BILLION RUPEES ORDER FROM GAIL
Further company coverage: SURR.NS
(([email protected];;))
EXCLUSIVE-India weighs scrapping import tax on US LNG, boosting purchases, sources say
Repeats to additional clients
Indian companies in talks with US companies for long-term LNG deals
India also looks to boost import of ethane, propane, butane
US second biggest LNG supplier to India
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)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Repeats to additional clients
Indian companies in talks with US companies for long-term LNG deals
India also looks to boost import of ethane, propane, butane
US second biggest LNG supplier to India
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)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Gail Gets PNGRB Approval For Capacity Augmentation Of Dahej-Uran-Dabhol-Panvel Gas Pipeline
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
(([email protected];))
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
(([email protected];))
Gail- Reduction Of Zones As Per Petroleum Regulator's Proposal May Not Impact Pipeline Companies
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
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
India's Gail gains on growth forecast, limited downside
** 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)
(([email protected] ; ( +91 8078332441))
** 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)
(([email protected] ; ( +91 8078332441))
Gail India Seeks 3 LNG Cargoes Per Year For 3 Years In Tender Closing April 2, chairman Says
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
(([email protected];))
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
(([email protected];))
India's GAIL issues swap tender for six LNG cargoes, sources say
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 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]))
India's GAIL issues tender seeking nine LNG cargoes, say sources
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]))
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]))
Accelera And Gail Partner To Advance Green Hydrogen Production, Transportation And Storage
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
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
Adani Total Dhamra LNG terminal expansion not imminent, CEO says
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)
(([email protected]; +65 91164984;))
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)
(([email protected]; +65 91164984;))
FACTBOX-Modi's US visit raises industry hopes amid tariff threats
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;))
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;))
India's GAIL issues swap tender for 12 LNG cargoes, sources say
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]))
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]))
Gail India Exec Says Hopes To Supply 129-130 MMSCMD Gas In March Quarter
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
(([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
(([email protected];))
GAIL Says Non-Binding MoU With YPF Was Signed By Co Along With Two Other Entities
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
(([email protected];;))
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
(([email protected];;))
GAIL (India) Says SEBI Issues Administrative Warning To Co
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];;))
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];;))
India's GAIL gains on $285 mln settlement with SEFE Marketing
** 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];))
** 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];))
GAIL (India) And SEFE Enter Settlement Agreement
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];))
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];))
India's Indraprastha Gas climbs after GAIL increases gas allocation
** 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];))
** 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];))
India Oil Ministry Says HD Korea Shipbuilding & Offshore Engineering Expresses Interest In Joining Indian Oil & Gas Firms For Shipbuilding
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
(([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
(([email protected];))
Qatar agrees five-year LNG supply deal with India's GAIL, sources say
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))
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))
India's Godawari Power gains after gas supply agreement with GAIL
** 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];))
** 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];))
Godawari Power And Ispat Enters Into Agreement With GAIL For Supply Of RLNG Gas
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 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];))
Railtel Corporation Of India Secures Order Worth 106.5 Million Rupees
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
(([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
(([email protected];))
India's GAIL issues swap tender for 2 LNG cargoes, sources say
SINGAPORE, Nov 29 (Reuters) - GAIL (India) Ltd GAIL.NS has issued a swap tender offering two liquefied natural gas (LNG) cargoes for loading in the United States in exchange for two cargoes for delivery to India, two industry sources said on Friday.
India's largest gas distributor is offering two cargoes for loading from Sabine Pass on Jan. 27-28 and Feb. 27-28.
In exchange, it is seeking two cargoes for delivery to the Dabhol terminal on Jan. 13-20 and Feb. 1-7.
The tender closes on Nov. 29.
(Reporting by Emily Chow; Editing by Himani Sarkar)
(([email protected]; Reuters Messaging: [email protected]))
SINGAPORE, Nov 29 (Reuters) - GAIL (India) Ltd GAIL.NS has issued a swap tender offering two liquefied natural gas (LNG) cargoes for loading in the United States in exchange for two cargoes for delivery to India, two industry sources said on Friday.
India's largest gas distributor is offering two cargoes for loading from Sabine Pass on Jan. 27-28 and Feb. 27-28.
In exchange, it is seeking two cargoes for delivery to the Dabhol terminal on Jan. 13-20 and Feb. 1-7.
The tender closes on Nov. 29.
(Reporting by Emily Chow; Editing by Himani Sarkar)
(([email protected]; Reuters Messaging: [email protected]))
Gail Re-Engages Process Licensor For Revival Of PTA Manufacturing Plant In Mangalore
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];;))
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];;))
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What does GAIL India do?
Established in 1984 under the Ministry of Petroleum & Natural Gas, GAIL specializes in gas marketing and transportation, offering services such as gas and LPG transmission, natural gas trading, petrochemicals, and city gas distribution.
Who are the competitors of GAIL India?
GAIL India major competitors are Petronet LNG, Guj. State Petronet, Confidence Petroleum, ONGC, Adani Total Gas, Gujarat Gas, Indraprastha Gas. Market Cap of GAIL India is ₹1,25,289 Crs. While the median market cap of its peers are ₹31,883 Crs.
Is GAIL India financially stable compared to its competitors?
GAIL India seems to be less financially stable compared to its competitors. Altman Z score of GAIL India is 3.55 and is ranked 7 out of its 8 competitors.
Does GAIL India pay decent dividends?
The company seems to pay a good stable dividend. GAIL India latest dividend payout ratio is 36.53% and 3yr average dividend payout ratio is 43.77%
How has GAIL India allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is GAIL India balance sheet?
Balance sheet of GAIL India is strong. But short term working capital might become an issue for this company.
Is the profitablity of GAIL India improving?
Yes, profit is increasing. The profit of GAIL India is ₹10,960 Crs for TTM, ₹9,899 Crs for Mar 2024 and ₹5,616 Crs for Mar 2023.
Is the debt of GAIL India increasing or decreasing?
The net debt of GAIL India is decreasing. Latest net debt of GAIL India is ₹13,587 Crs as of Mar-25. This is less than Mar-24 when it was ₹15,189 Crs.
Is GAIL India stock expensive?
GAIL India is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE. Latest PE of GAIL India is 10.1, while 3 year average PE is 10.17. Also latest EV/EBITDA of GAIL India is 9.02 while 3yr average is 8.77.
Has the share price of GAIL India grown faster than its competition?
GAIL India has given better returns compared to its competitors. GAIL India has grown at ~9.16% over the last 6yrs while peers have grown at a median rate of 6.71%
Is the promoter bullish about GAIL India?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in GAIL India is 51.88% and last quarter promoter holding is 51.9%
Are mutual funds buying/selling GAIL India?
The mutual fund holding of GAIL India is increasing. The current mutual fund holding in GAIL India is 11.43% while previous quarter holding is 10.08%.