The state-run natural gas distributor GAIL (India) Ltd anticipates securing 20% to 25% of its liquefied natural gas (LNG) supplies on a short-term or spot market basis. Sanjay Kumar, the marketing director for GAIL, stated at the Gastech trade show in Singapore that the remainder of the LNG will be purchased under long-term contracts.
The business would use spot markets to accommodate volatile or seasonally high demand. In the meantime, GAIL (India) recorded a 45% decrease in consolidated net profit for the three months ended June 2023, coming in at $1,793 crore as opposed to $3,250 crore in the same period previous year.
The state-run natural gas distributor GAIL (India) Ltd anticipates securing 20% to 25% of its liquefied natural gas (LNG) supplies on a short-term or spot market basis. Sanjay Kumar, the marketing director for GAIL, stated at the Gastech trade show in Singapore that the remainder of the LNG will be purchased under long-term contracts.
The business would use spot markets to accommodate volatile or seasonally high demand. In the meantime, GAIL (India) recorded a 45% decrease in consolidated net profit for the three months ended June 2023, coming in at $1,793 crore as opposed to $3,250 crore in the same period previous year.
