GAIL (India) Signs Long-Term Charter Party Agreement for LNG Carrier

GAIL (India) Signs Long-Term Charter Party Agreement for LNG Carrier​

GAIL (India) Limited, a Maharatna Public Sector Undertaking, has secured a long-term charter party agreement for an LNG carrier. The agreement was finalized with Alpha Gas, a prominent Greek shipping major.

The charter party was executed between GAIL and Pantheon Maritime Services Private Limited, which is a Singapore based affiliate of Alpha Gas. The deal involves the LNG carrier named 'Energy Fidelity.'

Shri S Bairagi, Executive Director (Mktg. - Shipping & International LNG) of GAIL (India) Limited, and Ms Anna Angelicoussis, Owner of Alpha Gas, signed the agreement at the Alpha Gas headquarters located in Athens.

The LNG carrier 'Energy Fidelity' possesses a cargo capacity of 174,000 cubic meters. It is outfitted with advanced technology, including a state-of-the-art two-stroke propulsion system, air lubrication technology, and shaft generators, features designed to enhance fuel efficiency and substantially reduce emissions.

This charter party agreement represents a significant step for GAIL (India) Limited, aligning with its 'Maritime Amrit Kaal Vision 2047,' and serves to reinforce India's energy supply chain and maritime infrastructure capabilities.

GAIL (India) Limited operates as India's primary natural gas company, maintaining diverse interests across the natural gas value chain. Its operations span trading, transmission, LPG production and transmission, LNG shipping, LNG re-gasification, petrochemicals, City Gas, and E&P. The company manages and operates a substantial network comprising over 18001+ km of natural gas pipelines nationwide. Within the Liquefied Natural Gas (LNG) segment, GAIL (India) Limited maintains a large and diversified LNG portfolio to ensure long-term supply security, establishing itself among the top global LNG portfolio marketers. Furthermore, as part of its logistics integration strategy, the company has developed the largest LNG fleet in the country, thereby strengthening India's maritime capabilities and assuring continuous LNG availability to meet escalating domestic demand.

Alpha Gas is recognized as a leading Greek shipping company providing a full suite of in-house LNG ship management services. These services include technical management, commercial operations, crewing, procurement, newbuilding supervision, and world class HSQE (Health, Safety, Quality, and Environmental) performance. Alpha Gas combines rich maritime heritage with modern operational excellence. The company's long term growth strategy centers on ship ownership, allowing it to serve leading charterers with reliability and flexibility. Alpha Gas continues to expand its fleet through an active newbuilding and acquisition program focused on high technology vessels incorporating the latest energy efficiency innovations.

GAIL Stock Price Movement​

Today, GAIL (India) Limited shares edged higher, concluding trading at ₹145.38, reflecting a gain of 1.43% for the day. The stock saw considerable investor interest, processing a total volume of 15.41 million shares.

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