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
- Asian Gas Grid