State-owned GAIL signs contract with Mitsui OSK for shared LNG vessel

The new vessel to be chartered from 2023 will become Mitsui OSK's second LNG carrier for GAIL.

FPJ Web DeskUpdated: Wednesday, December 21, 2022, 10:25 PM IST
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According to an exchange filing, India's state-owned gas supplier GAIL has partnered with Mitsui OSK Lines' arm to set up a new liquefied natural gas carrier, and to get a part in the ownership of another existing carrier.

The new vessel to be chartered from 2023 will become Mitsui OSK's second LNG carrier for GAIL, after the firms signed an agreement for their first one back in 2019.

The new vessel will be shared by Mitsui OSK and GAIL by transferring a part of the stake in the subsidiary to GAIL.

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