MOL intensifies its LNG commitment
The Japan-based carrier MOL has entered, through a wholly-owned subsidiary, into a short-term charter agreement for a LNG carrier with Gail (India). Gail is a state-owned natural gas processing and distribution company in India with approx. 11,400 km of cross country existing trunk pipeline network and another 4,000 km pipelines in an advanced stage of completion.
The company is also committed to LNG trading globally. Gail’s consolidated turnover for FY 2018-19 is about USD 11 billion with a net income of about USD 900 million.
MOL has been participating in the Indian market since the beginning of LNG imports into the country. The company also brought the first gas from Qatar. MOL is currently involved not only in the transport of LNG but also in other projects in India with regards to a floating LNG receiving terminal and Ethane deliveries. (kd)