November 29, 2024: In a significant step to expand its LNG shipping capabilities, GAIL (India) Limited has entered into a long-term time charter contract with Kawasaki Kisen Kaisha, Ltd. (“K” LINE). The agreement involves the construction of a new LNG carrier, set to begin operations in 2027.
The state-of-the-art LNG vessel, featuring a modern two-stroke engine and a tank capacity of 1,74,000 cubic meters, will be built by Samsung Heavy Industries Co. Ltd., Korea. This partnership highlights “K” LINE’s 40 years of expertise in LNG transportation.
The signing ceremony took place in New Delhi, attended by senior executives from both organizations. Key participants included Mr. R K Jain, Director (Finance), Mr. Sanjay Kumar, Director (Marketing), and Mr. R K Singhal, Director (Business Development) from GAIL, alongside Mr. Satoshi Kanamori, Managing Executive Officer (LNG, Carbon Solution Business) of “K” LINE.
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This new contract marks the first long-term partnership between GAIL and “K” LINE involving a newly constructed vessel. GAIL, currently operating four LNG carriers and expecting two more in 2025, aims to strengthen its ability to transport LNG from global sources, including North America, to meet growing domestic and international energy demands.
With this addition, GAIL’s LNG shipping fleet will further reinforce the company’s robust portfolio, ensuring reliable energy delivery to diverse markets worldwide.
