GAIL signs a 14-year charter with CoolCo for a new LNG carrier, enhancing its fleet to meet India’s growing gas demand by 2025.
GAIL (India) has entered into a 14-year charter agreement with Cool Company for a new LNG carrier, set to commence in early 2025. GAIL, which currently operates four LNG carriers, will have the option to extend the charter by two additional years. This move aligns with GAIL’s strategy to meet the growing demand for natural gas in India.
S. Bairagi, Executive Director of Marketing at GAIL, expressed enthusiasm about the deal, highlighting its role in GAIL’s ambitious plans. Richard Tyrrell, CEO of CoolCo, noted the significance of the long-term charter, emphasizing the advanced technology and efficiency of the new LNG carrier.
GAIL (India) is a Maharatna PSU and the leading natural gas company in India, with a wide range of operations including trading, transmission, and LNG shipping. The company operates over 16,200 km of natural gas pipelines and holds a dominant market share in gas transmission and trading within India. GAIL is also expanding into renewable energy sectors like solar, wind, and biofuel.
