New Delhi, April 7 GAIL (India) Ltd has signed a long-term charter agreement with Greece-based Alpha Gas for the liquefied natural gas (LNG) carrier, Energy Fidelity, the state-run firm said on Tuesday.
The agreement was executed with Pantheon Maritime Services, a Singapore-based affiliate of Alpha Gas, and was signed in Athens by senior officials from both companies, GAIL said in a statement.
The vessel, with a capacity of 174,000 cubic metres, is equipped with advanced propulsion and fuel-efficiency technologies aimed at reducing emissions, GAIL said.
The deal is part of GAIL's strategy to strengthen its LNG shipping capacity and support India's long-term energy security.
GAIL will use the carrier to import liquefied natural gas (LNG) from countries like the US and Russia.
GAIL is India's largest natural gas company with diversified interests in trading, transmission, LPG production and transmission, LNG shipping, LNG re-gasification, petrochemicals and city gas. The company owns and operates a network of over 18,001 km of natural gas pipelines spread across the country.
Alpha Gas is a leading Greek shipping company offering a comprehensive suite of LNG ship management services.