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EXCLUSIVE-Trump's Iran war pushes India to rekindle old friendship with Russia
India and Russia discuss resuming LNG trade amid Gulf supply disruptions, sources say
New Delhi has approached Washington for potential sanctions waiver
India's Russian crude imports could also soon double to 40% of its total supply
U.S. had spent years pressuring India to curtail Russian energy purchases
By Krishna N. Das, Nidhi Verma and Saurabh Sharma
NEW DELHI, March 27 (Reuters) - As India's diplomats negotiated an accord that would ease punitive U.S. tariffs on the South Asian country's exports in January, New Delhi slashed its purchases of Russian crude oil in a move that was widely seen as a painful concession to President Donald Trump.
Just two months later, however, Delhi and Moscow are deepening their energy cooperation, with both sides agreeing to prepare for Russia to resume direct sales of liquefied natural gas for the first time since the start of the Ukraine war, according to two people familiar with the matter. If India decides to pursue the deal, which risks violating Western sanctions, negotiations could be concluded in weeks, one of the people said.
Details of the talks, which come amid skyrocketing energy prices triggered by the U.S.-Israeli attack on Iran, have not been previously reported. The "verbal agreement" to negotiate an LNG deal was reached during a March 19 meeting between Russian Deputy Energy Minister Pavel Sorokin and Indian Petroleum and Gas Minister Hardeep Singh Puri in Delhi, the people said.
The two officials also agreed to further increase crude oil sales to India, which could double from January's levels to at least 40% of India's total imports in about a month, three people familiar with their deliberations said.
India became a major buyer of Russian crude that was heavily discounted after the invasion of Ukraine, which became a point of contention with the Trump administration. The world's third-biggest oil importer and consumer purchased nearly $44 billion of crude from Moscow last year, playing a vital role in keeping the Kremlin's wartime economy alive.
India has separately told its energy importers to get ready to resume purchases of Russian LNG, one of the people said. Delhi has already approached Washington about a possible sanctions waiver, according to the source and a second person familiar with the request.
India’s external affairs and petroleum ministries did not respond to questions about the potential LNG deal. Foreign ministry spokesperson Randhir Jaiswal told reporters last week that Delhi was in talks with several countries to secure energy supplies, including LNG. Indian authorities have also said they are purchasing cargos of Russian liquefied petroleum gas, which is largely used for cooking and isn't under sanctions.
The Russian energy ministry declined to comment about any discussions with India, while the U.S. Treasury Department did not address questions about sanctions relief.
The White House and Ukraine's embassy in Delhi did not respond to requests for comment.
"India chose the course that best served its national interests, anchored in a long-standing and trusted partnership with Russia," said Ajai Malhotra, a former Indian ambassador to Moscow.
Delhi should now "demand exemptions or accommodations as a normal part of negotiation between strategic partners," he added, referring to Washington.
DOUBLE WHAMMY
While India has been courted by the United States for decades as a strategic counterweight to neighbouring China, the world's fifth-largest economy has now been left reeling twice in less than a year by decisions initiated largely in Washington.
After years of buying crude oil from Moscow at discounted rates, Delhi sharply curtailed purchases after Trump in August imposed tariffs of as high as 50% on Indian goods, or among the most punitive levied on any country. The U.S. Supreme Court has since ruled that Trump acted unlawfully in enacting such tariffs.
India's calculus quickly changed after the U.S. and Israel attacked Iran on February 28. Tehran's retaliation included targeting ships in the Strait of Hormuz, effectively shutting down the narrow strip through which about half of India's crude oil and LNG supplies pass.
Long lines have since been seen outside some Indian gas stations, while some restaurants have run out of cooking gas.
Demand for Russian energy exports, which when transported to Asian customers avoid the Gulf, has sharply increased across the region's economies.
India's state-owned refiners began ordering additional purchases of Russian crude in the hours before the U.S. on March 5 announced a temporary waiver that would allow Delhi to buy some sanctioned cargoes. As oil prices continued to climb, Washington further loosened restrictions.
Some Indian policymakers have lamented that Delhi cut Russian crude imports as a concession to the U.S., according to a government document seen by Reuters.
“India had reduced purchases of discounted Russian crude, which would have buffered the situation to an extent,” said the note, a briefing on the Middle East crisis that was prepared on March 20 for the cabinet secretariat.
It cautioned that a prolonged disruption of oil flows from the Middle East would prompt a cascade of economic challenges, "leading to higher inflation, a weaker currency and rising foreign debt.”
Export growth could take a hit of between 2% and 4%, it warned, adding that wholesale inflation could rise by between 0.3% and 0.7%.
WARMING TIES
Russia, which has maintained friendly ties with India since the Cold War, is pressing its advantage.
Any new LNG accord would likely contain less favourable terms for India as compared to the 20-year supply deal India's state-owned GAIL agreed with Russia's Gazprom in 2012, according to one of the sources. "It is now a seller's market," the person said.
Executives at Russian state power grid company Rosseti, who were in Delhi this month for an industry summit, also proposed working with their Indian counterparts on transmission facilities, largely in mountainous and remote areas of the country, one of the sources said.
If an agreement is reached, it would mark Moscow's first foray into India's power transmission sector.
Russia is also keen to expand air connectivity with India: Timofei Titarenko, an executive with St. Petersburg's Pulkovo Airport, told Reuters last week that he has been visiting Indian airports and exploring the possibility of more direct flights.
Chief Kremlin diplomat Sergei Lavrov told a conference on Indo-Russian relations this week that 96% of trade between the two countries is now conducted in rupees and roubles.
"The time-tested Russian-Indian friendship serves as an example of how interstate relations should and can be built – based on equality, mutual trust and respect, and consideration of each other's interests," he said.
Rupee-rouble transactions of up to $1 billion can now be processed in as little as a day, or more than twice as fast as just a few years ago, a top executive at the Indian branch of Russian lender Sberbank said at a Mumbai conference in March.
(Additional reporting by Jaspreet Kalra in Mumbai, Shivangi Acharya in New Delhi, Vladimir Soldatkin in Moscow and Jarrett Renshaw in Washington; Editing by Katerina Ang)
India and Russia discuss resuming LNG trade amid Gulf supply disruptions, sources say
New Delhi has approached Washington for potential sanctions waiver
India's Russian crude imports could also soon double to 40% of its total supply
U.S. had spent years pressuring India to curtail Russian energy purchases
By Krishna N. Das, Nidhi Verma and Saurabh Sharma
NEW DELHI, March 27 (Reuters) - As India's diplomats negotiated an accord that would ease punitive U.S. tariffs on the South Asian country's exports in January, New Delhi slashed its purchases of Russian crude oil in a move that was widely seen as a painful concession to President Donald Trump.
Just two months later, however, Delhi and Moscow are deepening their energy cooperation, with both sides agreeing to prepare for Russia to resume direct sales of liquefied natural gas for the first time since the start of the Ukraine war, according to two people familiar with the matter. If India decides to pursue the deal, which risks violating Western sanctions, negotiations could be concluded in weeks, one of the people said.
Details of the talks, which come amid skyrocketing energy prices triggered by the U.S.-Israeli attack on Iran, have not been previously reported. The "verbal agreement" to negotiate an LNG deal was reached during a March 19 meeting between Russian Deputy Energy Minister Pavel Sorokin and Indian Petroleum and Gas Minister Hardeep Singh Puri in Delhi, the people said.
The two officials also agreed to further increase crude oil sales to India, which could double from January's levels to at least 40% of India's total imports in about a month, three people familiar with their deliberations said.
India became a major buyer of Russian crude that was heavily discounted after the invasion of Ukraine, which became a point of contention with the Trump administration. The world's third-biggest oil importer and consumer purchased nearly $44 billion of crude from Moscow last year, playing a vital role in keeping the Kremlin's wartime economy alive.
India has separately told its energy importers to get ready to resume purchases of Russian LNG, one of the people said. Delhi has already approached Washington about a possible sanctions waiver, according to the source and a second person familiar with the request.
India’s external affairs and petroleum ministries did not respond to questions about the potential LNG deal. Foreign ministry spokesperson Randhir Jaiswal told reporters last week that Delhi was in talks with several countries to secure energy supplies, including LNG. Indian authorities have also said they are purchasing cargos of Russian liquefied petroleum gas, which is largely used for cooking and isn't under sanctions.
The Russian energy ministry declined to comment about any discussions with India, while the U.S. Treasury Department did not address questions about sanctions relief.
The White House and Ukraine's embassy in Delhi did not respond to requests for comment.
"India chose the course that best served its national interests, anchored in a long-standing and trusted partnership with Russia," said Ajai Malhotra, a former Indian ambassador to Moscow.
Delhi should now "demand exemptions or accommodations as a normal part of negotiation between strategic partners," he added, referring to Washington.
DOUBLE WHAMMY
While India has been courted by the United States for decades as a strategic counterweight to neighbouring China, the world's fifth-largest economy has now been left reeling twice in less than a year by decisions initiated largely in Washington.
After years of buying crude oil from Moscow at discounted rates, Delhi sharply curtailed purchases after Trump in August imposed tariffs of as high as 50% on Indian goods, or among the most punitive levied on any country. The U.S. Supreme Court has since ruled that Trump acted unlawfully in enacting such tariffs.
India's calculus quickly changed after the U.S. and Israel attacked Iran on February 28. Tehran's retaliation included targeting ships in the Strait of Hormuz, effectively shutting down the narrow strip through which about half of India's crude oil and LNG supplies pass.
Long lines have since been seen outside some Indian gas stations, while some restaurants have run out of cooking gas.
Demand for Russian energy exports, which when transported to Asian customers avoid the Gulf, has sharply increased across the region's economies.
India's state-owned refiners began ordering additional purchases of Russian crude in the hours before the U.S. on March 5 announced a temporary waiver that would allow Delhi to buy some sanctioned cargoes. As oil prices continued to climb, Washington further loosened restrictions.
Some Indian policymakers have lamented that Delhi cut Russian crude imports as a concession to the U.S., according to a government document seen by Reuters.
“India had reduced purchases of discounted Russian crude, which would have buffered the situation to an extent,” said the note, a briefing on the Middle East crisis that was prepared on March 20 for the cabinet secretariat.
It cautioned that a prolonged disruption of oil flows from the Middle East would prompt a cascade of economic challenges, "leading to higher inflation, a weaker currency and rising foreign debt.”
Export growth could take a hit of between 2% and 4%, it warned, adding that wholesale inflation could rise by between 0.3% and 0.7%.
WARMING TIES
Russia, which has maintained friendly ties with India since the Cold War, is pressing its advantage.
Any new LNG accord would likely contain less favourable terms for India as compared to the 20-year supply deal India's state-owned GAIL agreed with Russia's Gazprom in 2012, according to one of the sources. "It is now a seller's market," the person said.
Executives at Russian state power grid company Rosseti, who were in Delhi this month for an industry summit, also proposed working with their Indian counterparts on transmission facilities, largely in mountainous and remote areas of the country, one of the sources said.
If an agreement is reached, it would mark Moscow's first foray into India's power transmission sector.
Russia is also keen to expand air connectivity with India: Timofei Titarenko, an executive with St. Petersburg's Pulkovo Airport, told Reuters last week that he has been visiting Indian airports and exploring the possibility of more direct flights.
Chief Kremlin diplomat Sergei Lavrov told a conference on Indo-Russian relations this week that 96% of trade between the two countries is now conducted in rupees and roubles.
"The time-tested Russian-Indian friendship serves as an example of how interstate relations should and can be built – based on equality, mutual trust and respect, and consideration of each other's interests," he said.
Rupee-rouble transactions of up to $1 billion can now be processed in as little as a day, or more than twice as fast as just a few years ago, a top executive at the Indian branch of Russian lender Sberbank said at a Mumbai conference in March.
(Additional reporting by Jaspreet Kalra in Mumbai, Shivangi Acharya in New Delhi, Vladimir Soldatkin in Moscow and Jarrett Renshaw in Washington; Editing by Katerina Ang)
Gail Announces Equity Investment In Gail Global (Usa) Inc.
March 25 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL - ANNOUNCES EQUITY INVESTMENT IN GAIL GLOBAL (USA) INC.
GAIL - GAIL WILL INFUSE EQUITY CAPITAL IN GGUI UPTO US$ 64 MILLION
Source text: ID:nBSE7pgPpL
Further company coverage: GAIL.NS
March 25 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL - ANNOUNCES EQUITY INVESTMENT IN GAIL GLOBAL (USA) INC.
GAIL - GAIL WILL INFUSE EQUITY CAPITAL IN GGUI UPTO US$ 64 MILLION
Source text: ID:nBSE7pgPpL
Further company coverage: GAIL.NS
Suzlon Energy Wins Its Sixth Repeat Order Of 100 MW From GAIL
March 24 (Reuters) - Suzlon Energy Ltd SUZL.NS:
SUZLON ENERGY LTD - WINS ITS SIXTH REPEAT ORDER OF 100 MW FROM GAIL
Source text: ID:nNSExsLbM
Further company coverage: SUZL.NS
March 24 (Reuters) - Suzlon Energy Ltd SUZL.NS:
SUZLON ENERGY LTD - WINS ITS SIXTH REPEAT ORDER OF 100 MW FROM GAIL
Source text: ID:nNSExsLbM
Further company coverage: SUZL.NS
India's GAIL falls on volume disruption concerns
** Shares of GAIL (India)GAIL.NS fall 4.76% to 136.11 rupees
** Antique Stockbroking flags volume-led disruption to earnings outlook and lower gas transmission volumes as key near-term risk for profitability visibility
** Says disruptions tied to supply-side constraints could weigh on pipeline utilisation and earnings trajectory
** However, broker notes current valuations remain attractive relative to historical averages and peers, offering medium-term comfort
** Adds structural gas demand outlook remains intact despite near-term volatility
** Stock rated "buy" on average by 33 analysts, median PT at 190 rupees -- LSEG data
** YTD, stock down more than 17%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
** Shares of GAIL (India)GAIL.NS fall 4.76% to 136.11 rupees
** Antique Stockbroking flags volume-led disruption to earnings outlook and lower gas transmission volumes as key near-term risk for profitability visibility
** Says disruptions tied to supply-side constraints could weigh on pipeline utilisation and earnings trajectory
** However, broker notes current valuations remain attractive relative to historical averages and peers, offering medium-term comfort
** Adds structural gas demand outlook remains intact despite near-term volatility
** Stock rated "buy" on average by 33 analysts, median PT at 190 rupees -- LSEG data
** YTD, stock down more than 17%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
Trualt Bioenergy Says Gail Invests 130 Million Rupees In Trualt Bioenergy's Subsidiary Leafiniti
March 19 (Reuters) - TruAlt Bioenergy Ltd TRUA.NS:
GAIL INVESTS 130 MILLION RUPEES IN TRUALT BIOENERGY'S SUBSIDIARY LEAFINITI
Source text: ID:nBSE2NLHK4
Further company coverage: TRUA.NS
March 19 (Reuters) - TruAlt Bioenergy Ltd TRUA.NS:
GAIL INVESTS 130 MILLION RUPEES IN TRUALT BIOENERGY'S SUBSIDIARY LEAFINITI
Source text: ID:nBSE2NLHK4
Further company coverage: TRUA.NS
GAIL India issues swap tender for two LNG cargoes, sources say
SINGAPORE, March 18 (Reuters) - GAIL (India) GAIL.NS has issued a swap tender, offering two U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for two cargo deliveries to India, said two industry sources on Wednesday.
GAIL, India's largest gas distributor, is offering the cargoes for loading on a free-on-board (FOB) basis on April 22 at Sabine Pass, Louisiana, and on May 11 at Cove Point, Maryland.
In exchange, GAIL is seeking two cargoes for delivery on a delivered ex-ship (DES) basis to the Dahej terminal on April 1-7 and 8-15.
The tender closes on March 18.
(Reporting by Emily Chow; Editing by Tom Hogue)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
SINGAPORE, March 18 (Reuters) - GAIL (India) GAIL.NS has issued a swap tender, offering two U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for two cargo deliveries to India, said two industry sources on Wednesday.
GAIL, India's largest gas distributor, is offering the cargoes for loading on a free-on-board (FOB) basis on April 22 at Sabine Pass, Louisiana, and on May 11 at Cove Point, Maryland.
In exchange, GAIL is seeking two cargoes for delivery on a delivered ex-ship (DES) basis to the Dahej terminal on April 1-7 and 8-15.
The tender closes on March 18.
(Reporting by Emily Chow; Editing by Tom Hogue)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
India GAIL buys Oman LNG cargo, sources say
By Nidhi Verma
NEW DELHI, March 11 (Reuters) - Indian gas firm GAIL GAIL.NS has bought an Omani liquefied natural gas cargo as the South Asian nation attempts to meet its natural gas demand, three trade sources said.
GAIL has bought the prompt cargo for delivery next week from a European trader through negotiations at a fixed price of $17-$20 per million British thermal units, two of the three sources said.
The cargo loaded on the vessel Orion Hugo, chartered by Shell, is scheduled to arrive in India around March 15, Kpler data shows.
No immediate response was available from GAIL.
India meets half of its 195 million standard cubic metres per day (mmscmd) of natural gas consumption through imports.
The country was getting about 60 mmscmd gas from the Middle East before the closure of the Strait of Hormuz and force majeure by its biggest supplier Qatar.
India is taking measures to rationalise gas supplies, diverting the fuel from non-priority sectors to key users after the disruption of shipments.
(Reporting by Nidhi Verma and by Emily Chow in Singapore; Editing by Louise Heavens)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
By Nidhi Verma
NEW DELHI, March 11 (Reuters) - Indian gas firm GAIL GAIL.NS has bought an Omani liquefied natural gas cargo as the South Asian nation attempts to meet its natural gas demand, three trade sources said.
GAIL has bought the prompt cargo for delivery next week from a European trader through negotiations at a fixed price of $17-$20 per million British thermal units, two of the three sources said.
The cargo loaded on the vessel Orion Hugo, chartered by Shell, is scheduled to arrive in India around March 15, Kpler data shows.
No immediate response was available from GAIL.
India meets half of its 195 million standard cubic metres per day (mmscmd) of natural gas consumption through imports.
The country was getting about 60 mmscmd gas from the Middle East before the closure of the Strait of Hormuz and force majeure by its biggest supplier Qatar.
India is taking measures to rationalise gas supplies, diverting the fuel from non-priority sectors to key users after the disruption of shipments.
(Reporting by Nidhi Verma and by Emily Chow in Singapore; Editing by Louise Heavens)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
India to boost coal use for summer power as Mideast crisis hits LNG supplies
By Sethuraman N R
NEW DELHI, March 10 (Reuters) - India will likely lean more on its coal capacity to meet peak power demand this summer as liquefied natural gas supplies tighten after shipping disruptions linked to the U.S.-Israeli war on Iran hit exports from major producers, two industry officials said.
New Delhi typically pushes power plants to ramp up generation during the April-June summer months, including costly gas-fired generation, to meet surging electricity demand and subsidises the cost for companies to shield customers from higher prices.
But so far the government has received no bids from power companies to supply 12,000 megawatt-hour of gas-based power for the summer months, an official with knowledge of the matter said. The tender will close in the next two days.
A second official said the power ministry is looking to bring coal plants out of planned outages and advising generators to avoid shutdowns during the peak summer months.
Top utility NTPC NTPC.NS has already told India's grid regulator it will not be able to supply gas-fired power during the April–June summer months, two company sources said.
NTPC and the federal power ministry did not respond to Reuters emails seeking comment.
EMERGENCY PROVISIONS
India has invoked emergency provisions and declared force majeure, reprioritising natural gas supplies to key sectors such as households and fertiliser plants.
India's Petronet LNG Ltd PLNG.NS, the country's top gas importer, has also issued a force majeure notice to customers including top power suppliers GAIL (India) Ltd, Indian Oil Corp IOC.NS and Bharat Petroleum Corp BPCL.NS after supplies from Qatar and Abu Dhabi National Oil Company were halted.
The country has about 20 gigawatts (GW) of gas-based generation capacity, which typically operates at 6-10% utilisation due to costly LNG, but rises to about 30% during the summer months.
Even if peak demand reaches 250–260 GW this summer, India is unlikely to face material power cuts given ample coal, lignite, nuclear, hydro and wind capacity, said Gautam Shahi, senior director at Crisil Ratings.
India relies on coal power for nearly 75% of its power generation.
"India's thermal coal market is seeing steady import demand, particularly for coal grades used by power producers," said Vasudev Pamnani, director at Gujarat-based coal trader i-Energy Resources.
(Reporting by Sethuraman NR; Editing by Saad Sayeed)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))
By Sethuraman N R
NEW DELHI, March 10 (Reuters) - India will likely lean more on its coal capacity to meet peak power demand this summer as liquefied natural gas supplies tighten after shipping disruptions linked to the U.S.-Israeli war on Iran hit exports from major producers, two industry officials said.
New Delhi typically pushes power plants to ramp up generation during the April-June summer months, including costly gas-fired generation, to meet surging electricity demand and subsidises the cost for companies to shield customers from higher prices.
But so far the government has received no bids from power companies to supply 12,000 megawatt-hour of gas-based power for the summer months, an official with knowledge of the matter said. The tender will close in the next two days.
A second official said the power ministry is looking to bring coal plants out of planned outages and advising generators to avoid shutdowns during the peak summer months.
Top utility NTPC NTPC.NS has already told India's grid regulator it will not be able to supply gas-fired power during the April–June summer months, two company sources said.
NTPC and the federal power ministry did not respond to Reuters emails seeking comment.
EMERGENCY PROVISIONS
India has invoked emergency provisions and declared force majeure, reprioritising natural gas supplies to key sectors such as households and fertiliser plants.
India's Petronet LNG Ltd PLNG.NS, the country's top gas importer, has also issued a force majeure notice to customers including top power suppliers GAIL (India) Ltd, Indian Oil Corp IOC.NS and Bharat Petroleum Corp BPCL.NS after supplies from Qatar and Abu Dhabi National Oil Company were halted.
The country has about 20 gigawatts (GW) of gas-based generation capacity, which typically operates at 6-10% utilisation due to costly LNG, but rises to about 30% during the summer months.
Even if peak demand reaches 250–260 GW this summer, India is unlikely to face material power cuts given ample coal, lignite, nuclear, hydro and wind capacity, said Gautam Shahi, senior director at Crisil Ratings.
India relies on coal power for nearly 75% of its power generation.
"India's thermal coal market is seeing steady import demand, particularly for coal grades used by power producers," said Vasudev Pamnani, director at Gujarat-based coal trader i-Energy Resources.
(Reporting by Sethuraman NR; Editing by Saad Sayeed)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))
India's GAIL seeks LNG cargo for March delivery, say industry sources
SINGAPORE, March 9 (Reuters) - India's GAIL GAIL.NS has issued a tender seeking a liquefied natural gas (LNG) cargo for delivery in March, two industry sources said on Monday.
GAIL, India's largest gas distributor, is seeking the cargo for delivery on March 15-25 in a tender that closes on March 9.
(Reporting by Emily Chow; Editing by Emelia Sithole-Matarise)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
SINGAPORE, March 9 (Reuters) - India's GAIL GAIL.NS has issued a tender seeking a liquefied natural gas (LNG) cargo for delivery in March, two industry sources said on Monday.
GAIL, India's largest gas distributor, is seeking the cargo for delivery on March 15-25 in a tender that closes on March 9.
(Reporting by Emily Chow; Editing by Emelia Sithole-Matarise)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
India's GAIL weighs supply cuts to gas customers after Petronet LNG force majeure
NEW DELHI, March 5 (Reuters) - India's GAIL (India) GAIL.NS said on Thursday it will assess curbing supplies to natural gas customers after a force majeure notice from long-term supplier Petronet LNG PLNG.NS over constraints on vessels as conflict escalates in the Middle East.
The U.S. and Israel's war on Iran has disrupted fuel shipments from the Gulf, affecting India's imports of liquefied natural gas from key supplier Qatar.
Fallout from the U.S.-Israeli attacks on Iran and a widening war has brought the transit of oil and LNG through the Strait of Hormuz to a near halt after some vessels in the area were hit.
The allocation of LNG from Petronet to GAIL has been reduced to zero with effect from March 4, GAIL said, adding that the potential impact from the force majeure could not be quantified.
LNG supplies to GAIL from other sources and suppliers are currently unaffected, the gas marketing company said in a statement to stock exchanges.
Petronet LNG, India's top gas importer, on Wednesday issued a force majeure notice to its supplier, QatarEnergy, and to local buyers like GAIL and Indian Oil Corp IOC.NS, after its LNG tankers were unable to reach the LNG loading terminal at Ras Laffan, it said in an exchange filing.
GAIL and IOC have already reduced gas supplies to industrial customers, Reuters reported on Tuesday.
India imported 27 million metric tons of LNG in 2024/25, about half of its overall gas consumption, according to government data. The bulk of the LNG comes from Qatar.
(Reporting by Sethuraman NR; Editing by Tom Hogue)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
NEW DELHI, March 5 (Reuters) - India's GAIL (India) GAIL.NS said on Thursday it will assess curbing supplies to natural gas customers after a force majeure notice from long-term supplier Petronet LNG PLNG.NS over constraints on vessels as conflict escalates in the Middle East.
The U.S. and Israel's war on Iran has disrupted fuel shipments from the Gulf, affecting India's imports of liquefied natural gas from key supplier Qatar.
Fallout from the U.S.-Israeli attacks on Iran and a widening war has brought the transit of oil and LNG through the Strait of Hormuz to a near halt after some vessels in the area were hit.
The allocation of LNG from Petronet to GAIL has been reduced to zero with effect from March 4, GAIL said, adding that the potential impact from the force majeure could not be quantified.
LNG supplies to GAIL from other sources and suppliers are currently unaffected, the gas marketing company said in a statement to stock exchanges.
Petronet LNG, India's top gas importer, on Wednesday issued a force majeure notice to its supplier, QatarEnergy, and to local buyers like GAIL and Indian Oil Corp IOC.NS, after its LNG tankers were unable to reach the LNG loading terminal at Ras Laffan, it said in an exchange filing.
GAIL and IOC have already reduced gas supplies to industrial customers, Reuters reported on Tuesday.
India imported 27 million metric tons of LNG in 2024/25, about half of its overall gas consumption, according to government data. The bulk of the LNG comes from Qatar.
(Reporting by Sethuraman NR; Editing by Tom Hogue)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
Indian gas firms restrict local supplies due to Middle East crisis
Recasts, adds details from sources
Middle East conflict disrupts India's LNG supply from Qatar
Force majeure declared by Indian gas firms, affecting fertiliser production
No gas supply cuts announced for households or automobile sector
By Nidhi Verma
NEW DELHI, March 4 (Reuters) - Several Indian companies have restricted the domestic supply of natural gas, including to the important fertiliser sector, under a force majeure clause due to an escalating conflict in the Middle East, gas importers and sources said on Wednesday.
The U.S and Israel's air war on Iran has disrupted fuel shipments in the region, affecting India's key supplier of liquefied natural gas, Qatar.
Sources familiar with the matter said lower gas supplies had already marginally hit production of some fertiliser companies including the Indian Farmers Fertiliser Cooperative Ltd and Kribhco Fertilizers Ltd.
The two companies did not respond to Reuters' request for comment outside normal working hours.
Gujarat Gas Ltd, which supplies gas for domestic and industrial clients, said in a stock exchange filing that it had declared a force majeure to restrict gas supplies to industries from Thursday. Its parent company, GSPC, gets most of the gas from Qatar and Abu Dhabi National Oil Co for sale to local customers.
India's top gas importer Petronet LNG Ltd PLNG.NS issued a force majeure notice to its supplier, QatarEnergy, and to local buyers GAIL (India) Ltd GAIL.NS, Indian Oil Corp IOC.NS, and Bharat Petroleum Corp BPCL.NS, after its three LNG tankers were unable to reach the Ras Laffan loading port, it said in an exchange filing.
GAIL and IOC have already reduced gas supplies to industries, Reuters reported on Tuesday.
QatarEnergy has also issued a notice to Petronet "indicating a potential event of force majeure" due to the hostilities in the region, the Indian company said.
So far the companies have not announced any cuts in gas supplies for households or the automobile sector.
India imported 27 million tonnes of LNG in 2024/25, about half of its overall gas consumption, according to the government data. The bulk of the LNG is imported from Qatar.
As a result of the attacks on Iran and Tehran's retaliatory strikes, transit through the Strait of Hormuz between Iran and Oman, which carries around one-fifth of oil consumed globally, as well as large quantities of liquefied natural gas, has ground to a near-halt after some vessels in the area were hit.
(Reporting by Nidhi Verma; Editing by Nivedita Bhattacharjee and Andrei Khalip)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
Recasts, adds details from sources
Middle East conflict disrupts India's LNG supply from Qatar
Force majeure declared by Indian gas firms, affecting fertiliser production
No gas supply cuts announced for households or automobile sector
By Nidhi Verma
NEW DELHI, March 4 (Reuters) - Several Indian companies have restricted the domestic supply of natural gas, including to the important fertiliser sector, under a force majeure clause due to an escalating conflict in the Middle East, gas importers and sources said on Wednesday.
The U.S and Israel's air war on Iran has disrupted fuel shipments in the region, affecting India's key supplier of liquefied natural gas, Qatar.
Sources familiar with the matter said lower gas supplies had already marginally hit production of some fertiliser companies including the Indian Farmers Fertiliser Cooperative Ltd and Kribhco Fertilizers Ltd.
The two companies did not respond to Reuters' request for comment outside normal working hours.
Gujarat Gas Ltd, which supplies gas for domestic and industrial clients, said in a stock exchange filing that it had declared a force majeure to restrict gas supplies to industries from Thursday. Its parent company, GSPC, gets most of the gas from Qatar and Abu Dhabi National Oil Co for sale to local customers.
India's top gas importer Petronet LNG Ltd PLNG.NS issued a force majeure notice to its supplier, QatarEnergy, and to local buyers GAIL (India) Ltd GAIL.NS, Indian Oil Corp IOC.NS, and Bharat Petroleum Corp BPCL.NS, after its three LNG tankers were unable to reach the Ras Laffan loading port, it said in an exchange filing.
GAIL and IOC have already reduced gas supplies to industries, Reuters reported on Tuesday.
QatarEnergy has also issued a notice to Petronet "indicating a potential event of force majeure" due to the hostilities in the region, the Indian company said.
So far the companies have not announced any cuts in gas supplies for households or the automobile sector.
India imported 27 million tonnes of LNG in 2024/25, about half of its overall gas consumption, according to the government data. The bulk of the LNG is imported from Qatar.
As a result of the attacks on Iran and Tehran's retaliatory strikes, transit through the Strait of Hormuz between Iran and Oman, which carries around one-fifth of oil consumed globally, as well as large quantities of liquefied natural gas, has ground to a near-halt after some vessels in the area were hit.
(Reporting by Nidhi Verma; Editing by Nivedita Bhattacharjee and Andrei Khalip)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
EXCLUSIVE-India reduces gas supply to industries after Qatar outage, sources say
Updates with more information from paragraph 5. Changes media keyword from IRAN-CRISIS/INDIA-LNG
By Nidhi Verma
NEW DELHI, March 3 (Reuters) - Indian companies on Tuesday reduced natural gas supplies to industries in anticipation of tighter supply from the Middle East after top producer Qatar halted production, four industry sources with knowledge of the matter said.
Qatar halted its liquefied natural gas production on Monday, as Iran continued to strike Gulf countries in retaliation for Israeli and U.S. strikes against it. The attacks have also halted oil and gas shipments through the Strait of Hormuz, driving up global energy prices and shipping costs.
India, the world's fourth-largest buyer of LNG, relies heavily on the Middle East for its imports.
Top LNG importer Petronet LNG Ltd PLNG.NS has informed GAIL (India) GAIL.NS, the top gas marketing company, and other companies about lower supplies, two of the sources said.
The South Asian nation is the top LNG client for Abu Dhabi National Oil Company and the second-largest buyer of Qatari LNG.
GAIL and Indian Oil Corp IOC.NS informed customers of the gas supply cut late on Monday, one of the sources said.
The cuts range from 10% to 30%, two of the sources said.
The cuts have been set at minimum lifting quantities that would shield the suppliers from any penalties from the customers based on contractual terms, the sources said.
GAIL, Petronet and IOC were not immediately available for comment. The sources declined to be named because they were not authorised to speak to the media.
To make up for the LNG shortfall, companies including IOC, GAIL, Petronet LNG are planning to issue spot tenders, two of the sources said, although spot prices, freight, and insurance costs have surged.
(Reporting by Nidhi Verma; Additional reporting by Emily Chow in Singapore; Editing by Florence Tan and Kate Mayberry)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
Updates with more information from paragraph 5. Changes media keyword from IRAN-CRISIS/INDIA-LNG
By Nidhi Verma
NEW DELHI, March 3 (Reuters) - Indian companies on Tuesday reduced natural gas supplies to industries in anticipation of tighter supply from the Middle East after top producer Qatar halted production, four industry sources with knowledge of the matter said.
Qatar halted its liquefied natural gas production on Monday, as Iran continued to strike Gulf countries in retaliation for Israeli and U.S. strikes against it. The attacks have also halted oil and gas shipments through the Strait of Hormuz, driving up global energy prices and shipping costs.
India, the world's fourth-largest buyer of LNG, relies heavily on the Middle East for its imports.
Top LNG importer Petronet LNG Ltd PLNG.NS has informed GAIL (India) GAIL.NS, the top gas marketing company, and other companies about lower supplies, two of the sources said.
The South Asian nation is the top LNG client for Abu Dhabi National Oil Company and the second-largest buyer of Qatari LNG.
GAIL and Indian Oil Corp IOC.NS informed customers of the gas supply cut late on Monday, one of the sources said.
The cuts range from 10% to 30%, two of the sources said.
The cuts have been set at minimum lifting quantities that would shield the suppliers from any penalties from the customers based on contractual terms, the sources said.
GAIL, Petronet and IOC were not immediately available for comment. The sources declined to be named because they were not authorised to speak to the media.
To make up for the LNG shortfall, companies including IOC, GAIL, Petronet LNG are planning to issue spot tenders, two of the sources said, although spot prices, freight, and insurance costs have surged.
(Reporting by Nidhi Verma; Additional reporting by Emily Chow in Singapore; Editing by Florence Tan and Kate Mayberry)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
GAIL Says Setting-Up Greenfield 178.2 MW Wind Project In Maharashtra
Feb 27 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL - SETTING-UP OF A GREENFIELD 178.2 MW WIND PROJECT IN MAHARASHTRA
GAIL - INVESTMENT REQUIRED 17.36 BILLION RUPEES
Source text: ID:nBSE5HDXQW
Further company coverage: GAIL.NS
Feb 27 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL - SETTING-UP OF A GREENFIELD 178.2 MW WIND PROJECT IN MAHARASHTRA
GAIL - INVESTMENT REQUIRED 17.36 BILLION RUPEES
Source text: ID:nBSE5HDXQW
Further company coverage: GAIL.NS
India aims to raise $20 billion from IPOs of state-run firms by 2030
Updates story first published late on Monday to add details, context and background in paragraphs 1, 3, 6-9
Stake sales via IPOs part of 16.7 trillion rupees asset sale plan until FY30
IPOs planned in railways, power, oil and gas, aviation and coal
Listings of seven railway firms could raise 837 billion rupees by FY30
By Nikunj Ohri and Shivangi Acharya
NEW DELHI, Feb 23 (Reuters) - India said it aims to raise 1.79 trillion rupees ($20 billion) from selling stakes in state-run firms through initial public offerings by the 2029/30 financial year, after previously backing away from outright privatisation plans.
The IPOs will be part of a broader push to raise $183.7 billion by monetising state assets over the next four years, the government's top policy think tank NITI Aayog said in a report released late on Monday.
The IPOs will be in the railway, power, petroleum and natural gas, aviation and coal sectors, NITI Aayog said.
They are part of Prime Minister Narendra Modi's second four-year plan for asset monetisation, after the first raised 5.3 trillion rupees by 2024/25, nearly 90% of the government's 6 trillion rupee target.
New Delhi has previously struggled to raise funds through outright privatisation of state-run firms and has more recently focused on monetising assets and subsidiaries of these companies to raise capital for reinvestment.
Modi's government deferred plans to privatise state-run companies after he failed to get a complete majority in the 2024 general elections.
Funds raised via asset monetisation go directly to firms to reinvest and can limit the burden on government finances to recapitalise these firms while maintaining their status as government entities.
Minority stake sales and privatisation form an important part of the government's overall plan to reduce its budget gap, even as New Delhi stopped setting specific targets for divestment after 2024.
STAKE SALES IN STATE-RUN FIRMS
Under the new plan, the government aims to divest stakes in seven railway companies through IPOs that could potentially fetch 837 billion rupees by 2030, the report said.
It targets raising 170 billion rupees of that through stock market listings in the coming financial year starting April 1, 2026, the report said, without naming the companies.
It also plans to list subsidiaries of state-run power firms to raise 310 billion rupees over the next four years, alongside 483 billion rupees from initial public offerings of subsidiaries of Coal India COAL.NS and the renewable energy assets of NLC India Limited NLCI.NS.
The Airports Authority of India will sell its stake in one subsidiary, and four airports that it owns through joint ventures with private partners.
In the financial year 2027/28, the government plans to list GAIL GAS, a subsidiary of GAIL (India) GAIL.NS to potentially raise 31 billion rupees, NITI Aayog said.
($1 = 90.9110 Indian rupees)
(Reporting by Nikunj Ohri and Shivangi Acharya; Editing by Susan Fenton and Lincoln Feast.)
((nikunj.ohri@thomsonreuters.com; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))
Updates story first published late on Monday to add details, context and background in paragraphs 1, 3, 6-9
Stake sales via IPOs part of 16.7 trillion rupees asset sale plan until FY30
IPOs planned in railways, power, oil and gas, aviation and coal
Listings of seven railway firms could raise 837 billion rupees by FY30
By Nikunj Ohri and Shivangi Acharya
NEW DELHI, Feb 23 (Reuters) - India said it aims to raise 1.79 trillion rupees ($20 billion) from selling stakes in state-run firms through initial public offerings by the 2029/30 financial year, after previously backing away from outright privatisation plans.
The IPOs will be part of a broader push to raise $183.7 billion by monetising state assets over the next four years, the government's top policy think tank NITI Aayog said in a report released late on Monday.
The IPOs will be in the railway, power, petroleum and natural gas, aviation and coal sectors, NITI Aayog said.
They are part of Prime Minister Narendra Modi's second four-year plan for asset monetisation, after the first raised 5.3 trillion rupees by 2024/25, nearly 90% of the government's 6 trillion rupee target.
New Delhi has previously struggled to raise funds through outright privatisation of state-run firms and has more recently focused on monetising assets and subsidiaries of these companies to raise capital for reinvestment.
Modi's government deferred plans to privatise state-run companies after he failed to get a complete majority in the 2024 general elections.
Funds raised via asset monetisation go directly to firms to reinvest and can limit the burden on government finances to recapitalise these firms while maintaining their status as government entities.
Minority stake sales and privatisation form an important part of the government's overall plan to reduce its budget gap, even as New Delhi stopped setting specific targets for divestment after 2024.
STAKE SALES IN STATE-RUN FIRMS
Under the new plan, the government aims to divest stakes in seven railway companies through IPOs that could potentially fetch 837 billion rupees by 2030, the report said.
It targets raising 170 billion rupees of that through stock market listings in the coming financial year starting April 1, 2026, the report said, without naming the companies.
It also plans to list subsidiaries of state-run power firms to raise 310 billion rupees over the next four years, alongside 483 billion rupees from initial public offerings of subsidiaries of Coal India COAL.NS and the renewable energy assets of NLC India Limited NLCI.NS.
The Airports Authority of India will sell its stake in one subsidiary, and four airports that it owns through joint ventures with private partners.
In the financial year 2027/28, the government plans to list GAIL GAS, a subsidiary of GAIL (India) GAIL.NS to potentially raise 31 billion rupees, NITI Aayog said.
($1 = 90.9110 Indian rupees)
(Reporting by Nikunj Ohri and Shivangi Acharya; Editing by Susan Fenton and Lincoln Feast.)
((nikunj.ohri@thomsonreuters.com; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))
India aims to raise $19.7 billion from IPOs of state-run firms by 2030
Stake sales via IPOs part of 16.7 trillion rupees asset sale plan until FY30
IPOs planned in railways, power, oil and gas, aviation and coal
Listings of seven railway firms could raise 837 billion rupees by FY30
By Nikunj Ohri
NEW DELHI, Feb 23 (Reuters) - India aims to raise 1.79 trillion rupees ($19.7 billion) from selling stakes in state-run firms through initial public offerings by the 2029/30 financial year, it said on Monday.
The IPOs will be part of a broader push to raise $183.7 billion by monetising state assets over the next four years, the government think tank NITI Aayog said in a report released late on Monday.
The IPOs will be in the railway, power, petroleum and natural gas, aviation and coal sectors, NITI Aayog said.
They are part of Prime Minister Narendra Modi's second four-year plan for asset monetisation, after the first raised 5.3 trillion rupees by 2024/25, below the government's 6 trillion rupee target.
STAKE SALES IN STATE-RUN FIRMS
Under the plan, the government aims to divest stakes in seven railway companies through IPOs that could potentially fetch 837 billion rupees by 2030, the report said. It targets raising 170 billion rupees of that through stock market listings in the coming financial year starting April 1, 2026, the report said, without naming the companies.
It also plans to list subsidiaries of state-run power firms to raise 310 billion rupees over the next four years, alongside 483 billion rupees from initial public offerings of subsidiaries of Coal India COAL.NS and the renewable energy assets of NLC India Limited NLCI.NS.
The Airports Authority of India will sell its stake in one subsidiary, and four airports that it owns through joint ventures with private partners.
In the financial year 2027/28, the government plans to list GAIL GAS, a subsidiary of GAIL (India) GAIL.NS to potentially raise 31 billion rupees, NITI Aayog said.
($1 = 90.9110 Indian rupees)
(Reporting by Nikunj Ohri; Editing by Susan Fenton)
((nikunj.ohri@thomsonreuters.com; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))
Stake sales via IPOs part of 16.7 trillion rupees asset sale plan until FY30
IPOs planned in railways, power, oil and gas, aviation and coal
Listings of seven railway firms could raise 837 billion rupees by FY30
By Nikunj Ohri
NEW DELHI, Feb 23 (Reuters) - India aims to raise 1.79 trillion rupees ($19.7 billion) from selling stakes in state-run firms through initial public offerings by the 2029/30 financial year, it said on Monday.
The IPOs will be part of a broader push to raise $183.7 billion by monetising state assets over the next four years, the government think tank NITI Aayog said in a report released late on Monday.
The IPOs will be in the railway, power, petroleum and natural gas, aviation and coal sectors, NITI Aayog said.
They are part of Prime Minister Narendra Modi's second four-year plan for asset monetisation, after the first raised 5.3 trillion rupees by 2024/25, below the government's 6 trillion rupee target.
STAKE SALES IN STATE-RUN FIRMS
Under the plan, the government aims to divest stakes in seven railway companies through IPOs that could potentially fetch 837 billion rupees by 2030, the report said. It targets raising 170 billion rupees of that through stock market listings in the coming financial year starting April 1, 2026, the report said, without naming the companies.
It also plans to list subsidiaries of state-run power firms to raise 310 billion rupees over the next four years, alongside 483 billion rupees from initial public offerings of subsidiaries of Coal India COAL.NS and the renewable energy assets of NLC India Limited NLCI.NS.
The Airports Authority of India will sell its stake in one subsidiary, and four airports that it owns through joint ventures with private partners.
In the financial year 2027/28, the government plans to list GAIL GAS, a subsidiary of GAIL (India) GAIL.NS to potentially raise 31 billion rupees, NITI Aayog said.
($1 = 90.9110 Indian rupees)
(Reporting by Nikunj Ohri; Editing by Susan Fenton)
((nikunj.ohri@thomsonreuters.com; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))
GAIL Appoints Deepak Gupta As Chairman And Managing Director
Feb 12 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL - DEEPAK GUPTA APPOINTED AS CHAIRMAN AND MANAGING DIRECTOR OF GAIL
Source text: ID:nBSE1V02nZ
Further company coverage: GAIL.NS
Feb 12 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL - DEEPAK GUPTA APPOINTED AS CHAIRMAN AND MANAGING DIRECTOR OF GAIL
Source text: ID:nBSE1V02nZ
Further company coverage: GAIL.NS
Three firms vie for Indian gas firm GAIL's tender to buy into US LNG project
By Nidhi Verma
GOA, India, Jan 29 (Reuters) - Three companies are competing for GAIL India's GAIL.NS tender to acquire up to a 26% stake in a liquefied natural gas project in the United States, its Chairman Sandeep Kumar Gupta said on Thursday.
Last year, GAIL issued a tender to buy up to a 26% stake in an LNG project in the United States, combined with a 15-year gas import deal.
India's largest gas distributor invited initial bids from companies as it seeks to buy equity in an existing LNG liquefaction project or a new project that would be commissioned by 2030 at the latest.
The United States is already the second-biggest supplier to India, one of the world's fastest-growing economies, while Qatar is its largest LNG supplier.
State-run GAIL wants 1 million metric tons of LNG per year from a U.S. plant on a free-on-board basis for 15 years, and has said the deal could be extended by five to 10 years.
India is the world's fourth-largest LNG importer and aims to raise the share of gas in its energy mix to 15% by 2030 from 6% currently.
More supplies are likely to come into the market as prices are "normalising," Gupta said on the sidelines of the India Energy Week conference.
"Supply is not a concern, as more volumes are coming in from Argentina, Canada, Alaska and Qatar," he said.
(Reporting by Nidhi Verma; writing by Mayank Bhardwaj; Editing by Sonia Cheema)
((mayank.bhardwaj@thomsonreuters.com; Twitter: @MayankBhardwaj9;))
By Nidhi Verma
GOA, India, Jan 29 (Reuters) - Three companies are competing for GAIL India's GAIL.NS tender to acquire up to a 26% stake in a liquefied natural gas project in the United States, its Chairman Sandeep Kumar Gupta said on Thursday.
Last year, GAIL issued a tender to buy up to a 26% stake in an LNG project in the United States, combined with a 15-year gas import deal.
India's largest gas distributor invited initial bids from companies as it seeks to buy equity in an existing LNG liquefaction project or a new project that would be commissioned by 2030 at the latest.
The United States is already the second-biggest supplier to India, one of the world's fastest-growing economies, while Qatar is its largest LNG supplier.
State-run GAIL wants 1 million metric tons of LNG per year from a U.S. plant on a free-on-board basis for 15 years, and has said the deal could be extended by five to 10 years.
India is the world's fourth-largest LNG importer and aims to raise the share of gas in its energy mix to 15% by 2030 from 6% currently.
More supplies are likely to come into the market as prices are "normalising," Gupta said on the sidelines of the India Energy Week conference.
"Supply is not a concern, as more volumes are coming in from Argentina, Canada, Alaska and Qatar," he said.
(Reporting by Nidhi Verma; writing by Mayank Bhardwaj; Editing by Sonia Cheema)
((mayank.bhardwaj@thomsonreuters.com; Twitter: @MayankBhardwaj9;))
K Line, GAIL, and J M Baxi Agree to Jointly Own LNG Carrier Under Long-Term Charter
Kawasaki Kisen Kaisha, Ltd. ("K" LINE) has reached an agreement in principle with GAIL (India) Limited and J M Baxi Group for the joint ownership of an LNG carrier currently under construction by Samsung Heavy Industries Co., Ltd. Upon delivery in 2027, the vessel will be deployed under a long-term time charter with GAIL. The agreement was formalized during a signing ceremony held at India Energy Week in Goa on January 27. This initiative is part of "K" LINE's strategy to expand in future growth markets such as Asia and to strengthen relationships with both GAIL and J M Baxi Group.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. K Line - Kawasaki Kisen Kaisha Ltd. published the original content used to generate this news brief on January 28, 2026, and is solely responsible for the information contained therein.
Kawasaki Kisen Kaisha, Ltd. ("K" LINE) has reached an agreement in principle with GAIL (India) Limited and J M Baxi Group for the joint ownership of an LNG carrier currently under construction by Samsung Heavy Industries Co., Ltd. Upon delivery in 2027, the vessel will be deployed under a long-term time charter with GAIL. The agreement was formalized during a signing ceremony held at India Energy Week in Goa on January 27. This initiative is part of "K" LINE's strategy to expand in future growth markets such as Asia and to strengthen relationships with both GAIL and J M Baxi Group.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. K Line - Kawasaki Kisen Kaisha Ltd. published the original content used to generate this news brief on January 28, 2026, and is solely responsible for the information contained therein.
India's Gail, “K” Line And J M Baxi Marine Services Enter Into Term Sheet For Equity In A Shipping Company
Jan 27 (Reuters) - GAIL (India) Ltd GAIL.NS:
INDIA'S GAIL, “K” LINE AND J M BAXI MARINE SERVICES ENTER INTO TERM SHEET FOR EQUITY IN A SHIPPING COMPANY - STATEMENT
Source text: [ID:]
Further company coverage: GAIL.NS
Jan 27 (Reuters) - GAIL (India) Ltd GAIL.NS:
INDIA'S GAIL, “K” LINE AND J M BAXI MARINE SERVICES ENTER INTO TERM SHEET FOR EQUITY IN A SHIPPING COMPANY - STATEMENT
Source text: [ID:]
Further company coverage: GAIL.NS
VERBIO SE Signs Biomethane Partnership with GAIL India
VERBIO SE has entered into a memorandum of understanding with Indian energy producer GAIL (India) Limited to explore the joint development of additional facilities for producing biomethane from agricultural residues in India. This collaboration aims to advance sustainable energy solutions, reduce air pollution caused by crop burning, and support rural value creation by converting over 300 million tons of agricultural waste generated annually into clean, versatile bioenergy. The initiative is part of VERBIO's broader strategy to expand in one of the world's fastest-growing renewable energy markets and contribute to India's energy transition.
VERBIO SE has entered into a memorandum of understanding with Indian energy producer GAIL (India) Limited to explore the joint development of additional facilities for producing biomethane from agricultural residues in India. This collaboration aims to advance sustainable energy solutions, reduce air pollution caused by crop burning, and support rural value creation by converting over 300 million tons of agricultural waste generated annually into clean, versatile bioenergy. The initiative is part of VERBIO's broader strategy to expand in one of the world's fastest-growing renewable energy markets and contribute to India's energy transition.
India's GAIL seeks LNG cargo for November delivery, say sources
SINGAPORE, Oct 15 (Reuters) - GAIL (India) GAIL.NS has issued a tender seeking a liquefied natural gas (LNG) cargo for delivery in November, two industry sources said on Wednesday.
GAIL is seeking the cargo for delivery on November 21-23 to the western Hazira terminal. It is seeking the cargo on a delivered-ex-ship basis, added one of the sources.
The tender closes on October 15.
(Reporting by Emily Chow; Editing by Rashmi Aich)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
SINGAPORE, Oct 15 (Reuters) - GAIL (India) GAIL.NS has issued a tender seeking a liquefied natural gas (LNG) cargo for delivery in November, two industry sources said on Wednesday.
GAIL is seeking the cargo for delivery on November 21-23 to the western Hazira terminal. It is seeking the cargo on a delivered-ex-ship basis, added one of the sources.
The tender closes on October 15.
(Reporting by Emily Chow; Editing by Rashmi Aich)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
Berkshire Hathaway Energy Cove Point LNG export plant in Maryland back in service
Adds details
Oct 13 - U.S. energy firm Berkshire Hathaway Energy's Cove Point liquefied natural gas (LNG) export plant in Maryland returned to service on Sunday after a planned autumn maintenance outage, according to a company notice to customers and data from financial firm LSEG.
The amount of natural gas flowing to the plant, which shut around September 20, rose from about zero to 0.9 billion cubic feet per day (bcfd) on October 12, the LSEG data showed.
The plant can turn around 0.8 bcfd of gas into LNG. Plants often pull in more gas than they can turn into LNG since they use some of the fuel to run equipment.
One billion cubic feet is enough to supply about 5 million U.S. homes for a day.
U.S. LNG export plants typically shut for planned maintenance in the spring or autumn when global demand for gas for heating or cooling is lower than during the peak winter and summer months.
Berkshire Hathaway Energy is a unit of U.S. multinational conglomerate Berkshire Hathaway BRKa.N.
Berkshire Hathaway Energy operates Cove Point and owns 75% of the facility. The other 25% is owned by units of Brookfield Asset Management BAMa.TO.
Cove Point's LNG is sold under 20-year agreements to a subsidiary of GAIL (India) GAIL.NS and to ST Cove Point, which is a joint venture between units of Japanese trading company Sumitomo 8053.T and Tokyo Gas 9531.T.
(Reporting by Scott DiSavino in New York; Editing by Kirsten Donovan)
((scott.disavino@thomsonreuters.com; +1 332 219 1922; Reuters Messaging: scott.disavino.thomsonreuters.com@reuters.net/))
Adds details
Oct 13 - U.S. energy firm Berkshire Hathaway Energy's Cove Point liquefied natural gas (LNG) export plant in Maryland returned to service on Sunday after a planned autumn maintenance outage, according to a company notice to customers and data from financial firm LSEG.
The amount of natural gas flowing to the plant, which shut around September 20, rose from about zero to 0.9 billion cubic feet per day (bcfd) on October 12, the LSEG data showed.
The plant can turn around 0.8 bcfd of gas into LNG. Plants often pull in more gas than they can turn into LNG since they use some of the fuel to run equipment.
One billion cubic feet is enough to supply about 5 million U.S. homes for a day.
U.S. LNG export plants typically shut for planned maintenance in the spring or autumn when global demand for gas for heating or cooling is lower than during the peak winter and summer months.
Berkshire Hathaway Energy is a unit of U.S. multinational conglomerate Berkshire Hathaway BRKa.N.
Berkshire Hathaway Energy operates Cove Point and owns 75% of the facility. The other 25% is owned by units of Brookfield Asset Management BAMa.TO.
Cove Point's LNG is sold under 20-year agreements to a subsidiary of GAIL (India) GAIL.NS and to ST Cove Point, which is a joint venture between units of Japanese trading company Sumitomo 8053.T and Tokyo Gas 9531.T.
(Reporting by Scott DiSavino in New York; Editing by Kirsten Donovan)
((scott.disavino@thomsonreuters.com; +1 332 219 1922; Reuters Messaging: scott.disavino.thomsonreuters.com@reuters.net/))
GAIL (India) issues swap tender for two LNG cargoes, sources say
SINGAPORE, Oct 9 (Reuters) - GAIL (India) GAIL.NS has issued a swap tender, offering two U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for two cargo deliveries to India, two industry sources said on Thursday.
GAIL, India's largest gas distributor, is offering the cargoes for loading on a delivered ex-ship (DES) basis on December 9-10 and January 9-10 at Cove Point, Maryland.
In exchange, GAIL is seeking two cargoes for delivery on a DES basis to the Dabhol terminal on December 24-31 and January 1-10.
The tender closes on October 9, the sources added.
(Reporting by Emily Chow; Editing by Sumana Nandy)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
SINGAPORE, Oct 9 (Reuters) - GAIL (India) GAIL.NS has issued a swap tender, offering two U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for two cargo deliveries to India, two industry sources said on Thursday.
GAIL, India's largest gas distributor, is offering the cargoes for loading on a delivered ex-ship (DES) basis on December 9-10 and January 9-10 at Cove Point, Maryland.
In exchange, GAIL is seeking two cargoes for delivery on a DES basis to the Dabhol terminal on December 24-31 and January 1-10.
The tender closes on October 9, the sources added.
(Reporting by Emily Chow; Editing by Sumana Nandy)
((emily.chow@thomsonreuters.com; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))
GAIL Says MNJPL Project Nears Completion, Full Commissioning By 31St December 2025
Sept 25 (Reuters) - GAIL (India) Ltd GAIL.NS:
MNJPL PROJECT NEARS COMPLETION, FULL COMMISSIONING BY 31ST DECEMBER 2025
Source text: [ID:]
Further company coverage: GAIL.NS
Sept 25 (Reuters) - GAIL (India) Ltd GAIL.NS:
MNJPL PROJECT NEARS COMPLETION, FULL COMMISSIONING BY 31ST DECEMBER 2025
Source text: [ID:]
Further company coverage: GAIL.NS
India's GAIL set for weekly rise on hopes of higher new pipeline tariffs
** Gail (India) GAIL.NS up about 3% this week, set for best week since June 27
** J.P.Morgan ("Neutral", PT: 186 rupees) expects new pipeline tariffs by Oct 30; GAIL seeks hike to 78 from 58 rupees/mmbtu
** Brokerage estimates higher tariffs could boost annual EBITDA by 34 bln rupees ($385.13 million)
** Citi ("Buy", PT: 220 rupees) says potential GAIL Gas listing could unlock 5-6% value but tariff hike remains "key catalyst"
** Avg rating of 32 analysts is "buy"; median PT of 215 rupees - data compiled by LSEG
** Stock down nearly 6% YTD
($1 = 88.2830 Indian rupees)
(Reporting by Urvi Dugar)
** Gail (India) GAIL.NS up about 3% this week, set for best week since June 27
** J.P.Morgan ("Neutral", PT: 186 rupees) expects new pipeline tariffs by Oct 30; GAIL seeks hike to 78 from 58 rupees/mmbtu
** Brokerage estimates higher tariffs could boost annual EBITDA by 34 bln rupees ($385.13 million)
** Citi ("Buy", PT: 220 rupees) says potential GAIL Gas listing could unlock 5-6% value but tariff hike remains "key catalyst"
** Avg rating of 32 analysts is "buy"; median PT of 215 rupees - data compiled by LSEG
** Stock down nearly 6% YTD
($1 = 88.2830 Indian rupees)
(Reporting by Urvi Dugar)
GAIL (India) Updates On Arbitration Proceedings Against Focus Energy
Sept 10 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL (INDIA) LTD - UPDATES ON ARBITRATION PROCEEDINGS AGAINST FOCUS ENERGY
GAIL (INDIA) LTD - FOCUS ENERGY HAS MADE COUNTER CLAIMS OF 5.29 BILLION RUPEES AGAINST GAIL
GAIL (INDIA) LTD - FOCUS ENERGY, OTHERS DENIED ALL CLAIMS BY GAIL
GAIL - FOCUS ENERGY DENIED ALL CLAIMS MADE BY GAIL
Source text: ID:nNSE5Ydhzt
Further company coverage: GAIL.NS
Sept 10 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL (INDIA) LTD - UPDATES ON ARBITRATION PROCEEDINGS AGAINST FOCUS ENERGY
GAIL (INDIA) LTD - FOCUS ENERGY HAS MADE COUNTER CLAIMS OF 5.29 BILLION RUPEES AGAINST GAIL
GAIL (INDIA) LTD - FOCUS ENERGY, OTHERS DENIED ALL CLAIMS BY GAIL
GAIL - FOCUS ENERGY DENIED ALL CLAIMS MADE BY GAIL
Source text: ID:nNSE5Ydhzt
Further company coverage: GAIL.NS
GAIL India posts bigger-than-expected drop in quarterly profit on higher input costs
July 28 (Reuters) - Gas distributor GAIL (India) GAIL.NS posted a bigger-than-expected fall in quarterly profit on Monday, as higher raw material costs weighed on stable demand.
GAIL, India's top natural gas distributor by market share, said its net profit after tax fell 30.8% to 18.86 billion rupees ($217.67 million) for the quarter ended June 30.
Analysts, on average, had expected profit to fall 26.6% to 19.99 billion rupees, according to data compiled by LSEG.
A 3.3% rise in the company's revenue during the quarter was outweighed by a 22.66% jump in raw material costs, which drove total expenses up by 7%.
In April, the Indian government reduced the allocation of low-cost domestic natural gas to city gas distributors, due to a decline in output from domestic producers.
India's natural gas production dropped by 0.9% year-on-year in April, followed by further declines of 3.6% in May and 2.8% in June.
To keep supplies steady, city gas firms turned to costlier gas sources.
The gas marketing segment, GAIL's largest revenue contributor through wholesale trading and natural gas distribution, reported a 5.3% rise to 310.03 billion rupees.
Revenue from its natural gas transmission segment, through which GAIL holds a 70% market share in the country, fell 2.1%.
Shares of GAIL fell 1.6% ahead of the results.
($1 = 86.6450 Indian rupees)
(Reporting by Yagnoseni Das in Bengaluru; Editing by Shailesh Kuber)
July 28 (Reuters) - Gas distributor GAIL (India) GAIL.NS posted a bigger-than-expected fall in quarterly profit on Monday, as higher raw material costs weighed on stable demand.
GAIL, India's top natural gas distributor by market share, said its net profit after tax fell 30.8% to 18.86 billion rupees ($217.67 million) for the quarter ended June 30.
Analysts, on average, had expected profit to fall 26.6% to 19.99 billion rupees, according to data compiled by LSEG.
A 3.3% rise in the company's revenue during the quarter was outweighed by a 22.66% jump in raw material costs, which drove total expenses up by 7%.
In April, the Indian government reduced the allocation of low-cost domestic natural gas to city gas distributors, due to a decline in output from domestic producers.
India's natural gas production dropped by 0.9% year-on-year in April, followed by further declines of 3.6% in May and 2.8% in June.
To keep supplies steady, city gas firms turned to costlier gas sources.
The gas marketing segment, GAIL's largest revenue contributor through wholesale trading and natural gas distribution, reported a 5.3% rise to 310.03 billion rupees.
Revenue from its natural gas transmission segment, through which GAIL holds a 70% market share in the country, fell 2.1%.
Shares of GAIL fell 1.6% ahead of the results.
($1 = 86.6450 Indian rupees)
(Reporting by Yagnoseni Das in Bengaluru; Editing by Shailesh Kuber)
Gail (India) Gets Arbitration Claims Worth Up To 6.39 Billion Rupees Plus Interest
July 25 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL (INDIA) LTD - GETS ARBITRATION CLAIMS WORTH UP TO 6.39 BILLION RUPEES PLUS INTEREST
GAIL (INDIA) LTD - DISPUTE CLAIM OVER SHORTFALL SUPPLY OF GAS
Source text: ID:nBSE3tM2C
Further company coverage: GAIL.NS
July 25 (Reuters) - GAIL (India) Ltd GAIL.NS:
GAIL (INDIA) LTD - GETS ARBITRATION CLAIMS WORTH UP TO 6.39 BILLION RUPEES PLUS INTEREST
GAIL (INDIA) LTD - DISPUTE CLAIM OVER SHORTFALL SUPPLY OF GAS
Source text: ID:nBSE3tM2C
Further company coverage: GAIL.NS
India's GAIL in initial talks for long-term LNG deal with Alaska LNG, sources say
By Nidhi Verma
NEW DELHI, July 16 (Reuters) - India's state-run GAIL GAIL.NS is in initial talks to buy liquefied natural gas from the proposed Alaska LNG project as the South Asian nation expands its import capacity, three industry sources with knowledge of the matter said.
The talks with developer Glenfarne come as India works to raise its energy imports from the United States to narrow its trade surplus as part of a broader trade agreement with Washington to avoid the imposition of hefty U.S. tariffs.
GAIL's discussions are preliminary as the landed cost of LNG will be a crucial deciding factor for the deal, the sources said.
Glenfarne said last month that 50 firms had formally expressed interest in contracts with Alaska LNG. The project, championed by U.S. President Donald Trump, has been stuck on the drawing board for more than a decade.
GAIL did not respond to Reuters email seeking comment on the talks.
"Glenfarne does not comment on or confirm individual commercial negotiations, but Alaska LNG’s growing commercial momentum reflects the project’s competitive economic and geostrategic advantages," it said in an emailed statement to Reuters.
India, the world's fourth-largest LNG importer, aims to increase the share of gas in its energy mix to 15% by 2030, up from about 6% currently, to reduce its carbon footprint.
GAIL plans to increase the capacity of its 5 million metric tons per year Dabhol LNG terminal to 6.3 million tons per year by mid-2027 and to 12.5 million tons per year by 2031-32.
Earlier this year GAIL invited initial bids from companies as it seeks to buy equity in an existing LNG project or a new project that would be commissioned by 2030 at the latest.
The $44-billion Alaska LNG project could export up to 20 million metric tons per year of the superchilled gas. Alaska Governor Mike Dunleavy said in March the project could start exporting LNG by 2030.
Glenfarne expects to make a final investment decision in the fourth quarter of this year on the first phase of the project - a 765-mile (1231-km) pipeline to deliver gas from the state's far north to its Anchorage region.
Thailand's state-owned oil and gas giant PTT PTT.BK last month signed a 20-year agreement to buy 2 million tons per year of LNG from the Alaska LNG project.
Others, including South Korea and Japan's top power producer JERA, are awaiting clarity on the financing and cost of the project.
GAIL has contracts to buy 15.5 million tons annually of LNG including 5.8 million tons from the United States.
(Reporting by Nidhi Verma in New Delhi; Additional reporting by Curtis Williams in Houston; Editing by Sonali Paul)
((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters Messaging: nidhi.verma.thomsonreuters.com@reuters.net))
By Nidhi Verma
NEW DELHI, July 16 (Reuters) - India's state-run GAIL GAIL.NS is in initial talks to buy liquefied natural gas from the proposed Alaska LNG project as the South Asian nation expands its import capacity, three industry sources with knowledge of the matter said.
The talks with developer Glenfarne come as India works to raise its energy imports from the United States to narrow its trade surplus as part of a broader trade agreement with Washington to avoid the imposition of hefty U.S. tariffs.
GAIL's discussions are preliminary as the landed cost of LNG will be a crucial deciding factor for the deal, the sources said.
Glenfarne said last month that 50 firms had formally expressed interest in contracts with Alaska LNG. The project, championed by U.S. President Donald Trump, has been stuck on the drawing board for more than a decade.
GAIL did not respond to Reuters email seeking comment on the talks.
"Glenfarne does not comment on or confirm individual commercial negotiations, but Alaska LNG’s growing commercial momentum reflects the project’s competitive economic and geostrategic advantages," it said in an emailed statement to Reuters.
India, the world's fourth-largest LNG importer, aims to increase the share of gas in its energy mix to 15% by 2030, up from about 6% currently, to reduce its carbon footprint.
GAIL plans to increase the capacity of its 5 million metric tons per year Dabhol LNG terminal to 6.3 million tons per year by mid-2027 and to 12.5 million tons per year by 2031-32.
Earlier this year GAIL invited initial bids from companies as it seeks to buy equity in an existing LNG project or a new project that would be commissioned by 2030 at the latest.
The $44-billion Alaska LNG project could export up to 20 million metric tons per year of the superchilled gas. Alaska Governor Mike Dunleavy said in March the project could start exporting LNG by 2030.
Glenfarne expects to make a final investment decision in the fourth quarter of this year on the first phase of the project - a 765-mile (1231-km) pipeline to deliver gas from the state's far north to its Anchorage region.
Thailand's state-owned oil and gas giant PTT PTT.BK last month signed a 20-year agreement to buy 2 million tons per year of LNG from the Alaska LNG project.
Others, including South Korea and Japan's top power producer JERA, are awaiting clarity on the financing and cost of the project.
GAIL has contracts to buy 15.5 million tons annually of LNG including 5.8 million tons from the United States.
(Reporting by Nidhi Verma in New Delhi; Additional reporting by Curtis Williams in Houston; Editing by Sonali Paul)
((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters Messaging: nidhi.verma.thomsonreuters.com@reuters.net))
Gail India extends gas purchase agreement with Oil India for another 15 years
July 9 (Reuters) - Gail India GAIL.NS has extended its gas sale and purchase agreement with Oil India OILI.NS for another 15 years starting from July 1, the company said on Wednesday.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Maju Samuel)
July 9 (Reuters) - Gail India GAIL.NS has extended its gas sale and purchase agreement with Oil India OILI.NS for another 15 years starting from July 1, the company said on Wednesday.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Maju Samuel)
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What does GAIL India do?
GAIL (India) is the largest state-owned natural gas processing and distribution company in India. The Company has a diversified business portfolio and has interests in the sourcing and trading of natural gas, production of LPG, Liquid hydrocarbons and petrochemicals, transmission of natural gas and LPG through pipelines, etc. GAIL has also participating interest in India and overseas in Oil and Gas Blocks, Renewable Energy, CGD, CBG and Green Hydrogen.
Who are the competitors of GAIL India?
GAIL India major competitors are Petronet LNG, Guj. State Petronet, Confidence Petroleum, ONGC, Adani Total Gas, Gujarat Gas, Indraprastha Gas. Market Cap of GAIL India is ₹93,136 Crs. While the median market cap of its peers are ₹21,010 Crs.
Is GAIL India financially stable compared to its competitors?
GAIL India seems to be less financially stable compared to its competitors. Altman Z score of GAIL India is 3.18 and is ranked 6 out of its 8 competitors.
Does GAIL India pay decent dividends?
The company seems to pay a good stable dividend. GAIL India latest dividend payout ratio is 39.61% and 3yr average dividend payout ratio is 44.89%
How has GAIL India allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Capital Work in Progress, Short Term Loans & Advances
How strong is GAIL India balance sheet?
Balance sheet of GAIL India is strong. But short term working capital might become an issue for this company.
Is the profitablity of GAIL India improving?
The profit is oscillating. The profit of GAIL India is ₹7,280 Crs for TTM, ₹12,450 Crs for Mar 2025 and ₹9,899 Crs for Mar 2024.
Is the debt of GAIL India increasing or decreasing?
Yes, The net debt of GAIL India is increasing. Latest net debt of GAIL India is ₹15,733 Crs as of Sep-25. This is greater than Mar-25 when it was ₹10,876 Crs.
Is GAIL India stock expensive?
GAIL India is expensive when considering the PE ratio, however latest EV/EBIDTA is < 3 yr avg EV/EBIDTA. Latest PE of GAIL India is 10.84, while 3 year average PE is 10.51. Also latest EV/EBITDA of GAIL India is 8.01 while 3yr average is 8.89.
Has the share price of GAIL India grown faster than its competition?
GAIL India has given lower returns compared to its competitors. GAIL India has grown at ~4.36% over the last 7yrs while peers have grown at a median rate of 7.82%
Is the promoter bullish about GAIL India?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in GAIL India is 51.88% and last quarter promoter holding is 51.88%.
Are mutual funds buying/selling GAIL India?
The mutual fund holding of GAIL India is decreasing. The current mutual fund holding in GAIL India is 10.22% while previous quarter holding is 11.02%.