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GAIL Signs MoU For Collaboration in Joint LNG Procurement

March 25, 2014 by KRS Leave a Comment

GAIL signs MoU with Chubu Electric

  • GAIL (India) had signed a memorandum of understanding (MoU) with Chubu Electric Power Co. Inc. of Japan (Chubu) for collaboration in joint LNG procurement.
  • This collaboration can augment GAIL’s efforts to source LNG volumes which can be highly profitable  for both companies.
  • GAIL’s MoU with Chubu is to bridge the gap in demand and supply of natural gas in the Indian market as there is enormous potential for  gas demand in Asia.
  • The Asian market is paying premium for LNG despite being the largest importer of LNG.
  • Cross-border pipelines, inter-link Asian countries through gas pipelines need to be promoted to bring gas from Central Asia for developing  synergies among Asian countries.
  • Asian Co-operation Forum should also be promoted to address Asian Gas Grid and Asian LNG forum and Asia Hub/index

Exams Perspective:

  1. GAIL
  2. LNG
  3. Asian Gas Grid

Filed Under: Current Affairs, Economy Tagged With: Asian Gas Grid, GAIL, LNG

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