Gail India Looking to Exchange Cove Point LNG Cargoes

Reuters reports that Gail India is looking to exchange three LNG cargoes during the first quarter of 2019. According to the report, Gail is offering one LNG cargo per month from the Dominion Cove Point LNG terminal in Lusby, Md., for loading in the first quarter of 2019, in exchange for corresponding deliveries to India. Gail India has 20-year deals to buy 5.8 million tonnes per year of U.S. LNG, split between the Cove Point LNG terminal and Cheniere Energy’s Sabine Pass LNG terminal in Cameron Parish, La. The article reports that due to only a few LNG tankers being available to ship the LNG to India, Gail has already entered into exchange deals for a portion of its Sabine Pass and Cove Point volumes.

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