The Russian exporter was to supply LNG from the Shtokman project under the contract, according to GAIL’s website. New Delhi-based GAIL signed a contract in 2012 to buy 2.5 million tonnes a year of LNG from Gazprom starting in 2018 and 2019. New Delhi: GAIL India Ltd is seeking to defer a 20-year contract to buy liquefied natural gas (LNG) from Gazprom PJSC until the Russian company’s Shtokman project begins production, officials at the South Asian country’s biggest gas transporter said. Now that the Arctic project is on hold, Gazprom has offered to supply LNG from other sources, said the GAIL officials, who asked not to be identified citing company policy. Reuters earlier reported GAIL was seeking to delay the gas purchase deal with Gazprom.

Source: Mint July 25, 2016 12:56 UTC