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MOL announces naming of LNG carrier for GAIL (India)

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Vessel will import clean LNG from the US to India under charter contract

Mitsui O.S.K. Lines (MOL) has announced that on February 9, 2021, the naming ceremony for a LNG carrier, ordered through a wholly owned subsidiary of MOL, was held online.

The GAIL BHUWAN, named by Mrs Anu Jain, spouse of Mr Manoj Jain, Chairman and Managing Director, GAIL (India) Ltd, in the presence of senior officials of the company, is the first newly built LNG carrier for charter contract with GAIL.

GAIL has contracts for procuring LNG volumes from the US under two long-term Sales and Purchase Agreements signed with US energy majors. The vessel will ship clean LNG fuel from the US Gulf Coast to India, for meeting the country’s energy requirement, and also to other markets globally.

GAIL is ranked the No. 1 gas pipeline company in India and among the top gas utilities in Asia. It is the largest natural gas company in India with approx. 12,426 km of cross-country existing trunk pipeline network and another 6,747 km of pipelines in advance stages of completion. The company’s business activities range from gas transmission and marketing to processing, transmission of LPG, and production and marketing of petrochemicals like HDPE and LLDPE. It also has extended its presence in Liquefied Natural Gas (LNG) re-gasification, City Gas Distribution, Exploration & Production, etc. GAIL currently holds a LNG portfolio of about 14 MMTPA from various long- and short-term contracts. The company is also committed to LNG trading globally.

MOL has been participating in the Indian market since the beginning of LNG import into the country, with the distinction of having brought the first gas from Qatar. MOL is currently participating in not only transportation of LNG but also other projects in India, including Floating LNG receiving terminal and ethane transportation by the first Very Large Ethane Carrier (VLEC) in the world.
MOL will, in response to increasing demands for energy transportation, continue its efforts to provide various sea transportation services with high safety standards, which the company is known for, said a release.

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