GAIL signs long-term charter party agreement for LNG carrier with Alpha Gas

Expanding on their collaborations for liquified natural gas (LNG) charter fleet, state-owned Gas Authority of India Ltd (GAIL) Tuesday inked a long-term charter party agreement with Greek shipping management company Alpha Gas for their LNG carrier ‘Energy Fidelity’.  

The LNG carrier holds a cargo capacity of 174 thousand cubic metres. 

The charter would be executed between the Indian state-owned gas major and Singapore-based affiliate of Alpha Gas, that is, Pantheon Maritim Services Pvt Ltd.  

“The charter party agreement marks a key milestone for GAIL (India) Limited under the ‘Maritime Amrit Kaal Vision 2047’, further strengthening India’s maritime infrastructure and energy supply chain capabilities,” the state-owned company held in a statement.  

Essential to note, in January this year at the India Energy Week, GAIL had also signed a term sheet for equity participation in ship-building companies Kawasaki Kisen Kaisha (K Line) and J M Baxi Marine Services. 

Back then, the Delhi-headquartered gas transmission and marketing company had emphasised that as India sought to expand the share of natural gas in its energy mix, LNG shipping would enable sourcing reliable energy supplies from global markets and delivering them efficiently to Indian ports and consumers.