GAIL hires LNG ship from CoolCo

NEW DELHI: State-owned gas utility GAIL (India) Ltd has hired a liquefied natural gas (LNG) carrier from NYSE-listed Cool Company for a 14-year period to augment its transportation capability to meet India’s rising gas needs.

“The time charter for the LNG carrier will commence in early 2025 and GAIL will have the option to extend the charter by two additional years beyond the firm 14-year period,” the company said in a statement.

The agreement with Cool Company Ltd, a pure play LNG shipping company, is for a newbuild LNG carrier.