GAIL India, MOL subsidiary enter time charter contract for LNG carrier

21 Dec 2022 , 12:59 PM

The new building vessel will be the second MOL Group LNG carrier to serve GAIL; the first vessel was signed in 2019.

The existing vessel is still chartered to GAIL through a wholly owned MOL subsidiary beginning in 2021, and MOL’s shipping service is still highly regarded by GAIL. MOL and GAIL agreed to share the vessel at this time by transferring a portion of a wholly owned MOL subsidiary’s shares to GAIL.
 

By strengthening MOL and GAlL’s partnership, there will be synergies that will allow MOL to provide more reliable services, allowing MOL to expand services even further to meet future demand.
 

MOL establishes regional strategies as one of the pillars of its fiscal 2022 management plan, ‘Rolling Plan 2022,’ and takes a proactive approach to business expansion in Asia, particularly in India, as a region with strong growth potential.
 

GAIL has emerged as one of the leading global LNG players, with a global LNG portfolio of approximately 14 MMTPA and actively involved in the LNG trading business in the international market.

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