GAIL (India) Ltd. May soon diversify its supply geographic sources and look for supplies from Far East of Africa. The statement made by the Marketing Director, Mr. Prabhat Singh at the LNG supplies for Asian markets 2014 conference, revealed that GAIL may soon be associated with the suppliers from east of Africa.
The Director, Marketing quoted “We are trying to spread our portfolio of LNG supplies geographically and indices wise (and) we are looking at the East African suppliers”. He mentioned that the prices for the new supplies were sought around 12 US $ per million British thermal units. “At this point in time, a price of US $ 12 per mmbtu would be good for India,” he further added. Mr.Singh stressed on having a balanced portfolio.
Leaps such as this one would not only provide better availability of natural gas but would also gradually lead India towards #EnergySecurity.