Gail India buys LNG cargo for February delivery

Gail (India) has bought a liquefied natural gas (LNG) cargo for delivery in February, three industry sources said on Friday. It bought the cargo for delivery into Dabhol, India, on a delivered ex-ship (DES) basis for Feb. 23 to 28 delivery at $2.40 to $2.50 per million British thermal units (mmBtu), the sources said.

This is likely a new record low price for cargoes delivered into India, they said.

Gail separately sold a cargo from Cove Point plant in the United States on a delivered ex-ship basis into Europe for a February to March delivery, and likely did not award another cargo it had offered for loading in April from Cove Point, one of the sources said.

Companies typically do not comment on their spot deals.

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