GAIL (India) Limited has sold out the entire quantity of the first ever LNG spot cargo bought from Algeria. The LNG, equivalent to 80 MMSCM of natural gas, was sold to consumers such as NTPC, Delhi Vidyut Board, Birla Copper and some others.
Commenting on the development, GAIL C&MD, Shri. Proshanto Banerjee said, “In April 2004, GAIL created history in the gas sector by selling Regasified LNG for the first time in India. This was a long term contract supply from RasGas, Qatar. Two years later in June 2006, GAIL has now once again achieved a milestone by selling the first internationally-traded spot cargo of LNG. The Indian gas market has now attained full maturity despite all speculations. This summer, consumers can look forward to cheaper power produced from LNG rather than Naphtha.”
GAIL has sponsored the APRDC at the LRS Institute at a cost of Rs. 20 lakhs. With the APRDC going functional, LRS Institute has acquired a system for biochemical lung function testing in form of breath Condensate (ecoscreen) and a system for analysis of Hydrogen Peroxide in exhaled breath which is a marker for inflammation in lungs.
With this successful marketing of spot LNG, the domestic gas market is aligned with the global gas market. Going forward, GAIL is in discussion with major suppliers for bringing more LNG cargoes from South East Asia, Middle East and North Africa.
The first spot cargo of LNG from M/s. Sonatrach, Algeria was received on the 20th of May, 2006 at Dahej.
