Lowest U.S. Gas Price Since 1999 Attracts GAIL: Corporate India
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GAIL India Ltd., the first Asian company to buy liquefied natural gas from the U.S., plans to take advantage of the lowest prices in 13 years to boost imports from America and revive sales growth at home.
India’s biggest natural gas distributor is in talks with U.S. exporters to make up for falling production at domestic fields, P.K. Jain, finance director at GAIL, said in a phone interview yesterday. The company aims to meet demand in Asia’s third-biggest economy through overseas purchases, he said.