Henry Hub Linked RLNG for India
GAIL (India) Limited, recently signed LNG procurement contracts indexed to Henry Hub (HH) prices. The supplies under these contracts however are expected to commence from 2017-18 onward. GAIL has started the process of tie-up of these RLNG volumes through execution of Term Sheet(s) with the interested Party(ies) which shall be converted into a firm Gas Supply Agreement (GSA).
As of now, GAIL has executed Term Sheet with more than 100 Parties and we would like to convey our sincere thanks to the Parties for the overwhelming response. We further inform that all these Parties have thus become eligible to commence further discussions for entering into the Gas Supply Agreement (GSA) for purchase of GAIL’s HH indexed RLNG. The time line for signing the Term Sheet is about to close shortly. Accordingly, all other interested Party(ies)/Entity(ies) may consider and execute the Term Sheet with GAIL immediately. Further, GAIL’s current offer is valid only till 9th June 2014, 6:00 PMand will undergo upward revision thereafter. All interested Parties may approach GAIL (India) Limited’s Zonal Offices for executing the Term Sheet within the stipulated time frame. Above is subject to execution of a mutually agreed & binding Gas Supply Agreement (GSA) for supply of such HH indexed RLNG. The contact address of Zonal offices are available on the website.”