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GAIL mulls foray into shipping sector

GAIL mulls foray into shipping sector
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State-run Maharatna firm GAIL India plans to foray into shipping business in order to ferry the natural gas that it would source from different countries.

The company is yet to decide whether to have its own ships or charter ships. But, it intends to have six to seven ships.

The company aims to increase natural get import into India in the coming years. Last year, it imported 24-25 cargoes.

This year, it targets 26 cargoes. With the commissioning of the Dabhol LNG terminal, it is looking at playing a bigger role in the gas sourcing business, either through long-term, short-term or spot, or through equity participation.

It plans to expand its Dabhol LNG terminal from 5 million tonne per annum (mn tpa) to 7.5 mn tpa in the next two years, along with putting in place the breakwater facility at the terminal. The final intent is to take the Dabhol capacity to 10 mn tpa.

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