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GAIL (INDIA) LTD. - Clarification from Gail (India) Ltd
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30 Jul 2014
The Exchange had sought clarification from Gail (India) Ltd with respect to the news item appearing in The Financial Express on July 28, 2014, titled &quot;Gail to buy 1/3rd of LNG ships from Indian builders&quot;&lt;br/&gt;&lt;br/&gt;Gail (India) Ltd has replied as under:&lt;br/&gt;&lt;br/&gt;&quot;As informed earlier, GAIL has signed long term agreements with the US based Companies viz. Cheniere Energy Partner and Dominion Resources for transportation of LNG from Sabine Pass and Cove Point terminals in USA.&lt;br/&gt;&lt;br/&gt;We would like to clarify that under the advice of Ministry of Petroleum and Natural gas, GAIL will shortly come out with a LNG ship charter hire tender specifying, inter-alia, that one ship out of every lot of three ships each would be built in India. Quotes for three such lots of three ships each would be specified in the tender. It is proposed to allow 6 years delivery period for the Indian built ships as against about 2 years for the foreign built ships.&quot;
View all announcements for GAIL (INDIA) LTD. Source: BSE India