Japan’s shipping giant Japan’s Mitsui O.S.K Lines has signed a short-term charter agreement for a Liquified Natural Gas (LNG) carrier with state-run natural gas firm GAIL India, reports The Hindu BusinessLine.
Details on the agreement
Japan’s Mitsui O.S.K Lines Ltd, Junichiro Ikeda, President of the Japanese fleet owner, disclosed the deal with GAIL after signing the deal.
Tokyo Stock Exchange-listed MOL, the world’s largest operator of LNG carriers, did not disclose further details of the charter deal, including the duration of the contract, the name of the ship and the day rate.
The contract was signed by one of MOL’s wholly-owned subsidiaries, it said in a statement on its Website.
About GAIL
GAIL is India’s largest natural gas company. The existing trunk pipeline network is around 11,400 kilometers.
Another 4,000 kilometers of pipelines in nearing completion.
LNG import into India
MOL has been taking part in Indian market since the kick start of LNG import into the country.
It is expected that demand for gas will be increasing continuously in India, showing a significant economic growth.
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Source: BusinessLine
