India’s GAIL to Receive LNG Cargoes from Germany’s Sefe
- March 16, 2023
- Posted by: Quatro Strategies
- Category: Energy
Indian gas company GAIL is set to receive two LNG shipments each in March and April from Germany’s Sefe for the first time since supplies had been halted almost a year ago. GAIL Chairman Gupta said Sefe was supplying cargoes from its non-Russian portfolio in Egypt, United Arab Emirates and the United States.
“Because of force majeure, they cannot supply from Russia, so they are giving us (LNG) from non-Russian portfolio,” Gupta further stated.
He said the first cargo for March has already arrived at the Dahej terminal in western India.
GAIL agreed to a 20-year deal with Gazprom Marketing and Singapore (GMTS) in 2012 for annual purchases of an average of 2.5 million tonnes of LNG.
At the time, GMTS was a unit of Gazprom Germania, now called Sefe, but the Russian parent gave up ownership of Sefe after Western sanctions were imposed on Moscow over its invasion of Ukraine last year.
Sefe had stopped supplying LNG to the Indian company in May last year to meet its own demand.
Subscribe to Top Insights Today
The Executive Newsletter -Top Insights Today- puts global business events in perspective through special insights
Join the ranks of global executives and subscribe to Top Insights Today
Top Insights Today covers insights on energy, clean-tech, oil&gas, mining, rare earths, defense, aviation, infrastructure, manufacturing, electrical vehicles, big-tech, finance and politics of business
Read more insights
Biden, Xi Discussed Issues of Taiwan, Ukraine in Latest Video Call
Xi Jinping and Biden discussed the issues of Taiwan and the war in Ukraine on Friday. Xi told Biden that the matter of Taiwan should be handled properly or it will have a negative impact on the US-China relations. China, which recognizes Taiwan as part of its own territory, says the island is the most sensitive issue in its relations with the United States.
Moldova Turns to Poland for Natural Gas Amid Pressure from Gazprom
After failing to secure a new long term natural gas supply with Russia, Moldova has turned to Poland to prevent a potential gas shortage this winter. Moldova has already recevied a million cubic meters of gas from Poland, as the former Soviet Republic tries to diversify its supplies.
Japanese Consortium Testing a Yen Based Digital Currency
A consortium involving 70 Japanese firms, including three mega-banks, announced that it was working on a yen based digital currency to be launched in 2022. The announcement said the trials would begin in a few months. Kazuhiro Tokita, CEO of cryptocurrency exchange DeCurret, which leads the consortium, said the digital currency, called DCJPY, would be supported by bank deposits and use a common platform for large transfers among companies.