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Gail India Receives Second LNG Cargo From GDF Suez at Dabhol

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Feb. 4 (Bloomberg) -- Gail India Ltd. is taking delivery of its second liquefied natural gas cargo through a contract with GDF Suez at its Dabhol terminal, said a company official.

The Grace Acacia began discharging the 70,000 metric ton Yemeni cargo yesterday, said the official, who asked not to be identified because he isn’t authorized to speak to the media. The ship left the port of Balhaf, Yemen, Jan. 26 after loading the LNG and arrived at Dabhol Feb. 1, according to vessel transmissions captured by IHS Inc. on Bloomberg.

Gail India has a 400,000 tons-a-year LNG term contract with GDF Suez that runs from 2013 to 2014.

The 5 million ton-a-year Dabhol terminal south of Mumbai received its first commissioning cargo from Gazprom Marketing & Trading’s LNG Pioneer on Jan. 11, according to a statement on Gazprom’s website.

Gail will not issue a tender this week to buy February LNG as prices in Asia are too high, the official said. The company may consider purchasing spot cargoes for delivery from March to May if prices weaken, he said.

The price of LNG spot cargoes delivered in four to eight weeks rose to $17.95 in northeast Asia, World Gas Intelligence, an energy research company, said Jan. 14.

To contact the reporter on this story: Chou Hui Hong in Singapore at chong43@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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