GAIL has entered into a long-term LNG sales and purchase agreement with Vitol Asia, where Vitol will supply LNG from its global portfolio to GAIL.
The agreement follows a binding term sheet signed between the two companies in January of the previous year.
India, the world's fourth-largest LNG importer in 2024, has a growing demand for LNG, with plans to increase the share of natural gas in its energy mix from 6% to 15% by 2030.
India's LNG regasification capacity has nearly doubled since 2014, supporting the country's vision for increased natural gas consumption.