GAIL Eyes US LNG Investments Amid Rising Energy Demand

GAIL, a state-owned gas importer in India, has received five proposals for equity stakes in US LNG projects alongside long-term supply contract offers. The move is part of India's strategy to diversify LNG sources amid growing energy demand. Bids follow past stalling due to US policy changes.

State-owned gas importer GAIL (India) is evaluating proposals from five entities for equity stakes in US LNG projects. These offers are linked with long-term supply contracts, revealed company officials during a press conference.

The tender, which sought up to a 26% stake in a US LNG project, closed last month. This move comes amidst India's ongoing efforts to secure energy resources following recent US trade policies.

With India's domestic gas production meeting half of its needs, GAIL aims to boost LNG imports to meet rising demand. The company is also enhancing its infrastructure to operate continuously, regardless of the season.

(With inputs from agencies.)