GAIL to sign LNG deal with US company.

State-run gas utility GAIL India is likely to sign a gas-supply agreement with Houston-based Vega Energy Partners shortly, sources said. The deal is for supplying gas to the Cove Point LNG Terminal project located at Lusby in Maryland, US.

'We have been looking to book gas supply for Cove Point and this deal would be a step forward,' said an official from GAIL India, without divulging further details.

Vega Energy Partners is engaged in the management, optimisation, and development of natural gas assets.

The $3.8-billion Cove Point LNG project is owned by Dominion Cove Point LNG, LP with which GAIL had signed a terminal service agreement in April 2013 (through GAIL Global (USA) LNG LLC) for booking 2.3 million tonnes per annum (mtpa) liquefaction capacity in Cove Point LNG Terminal.


BS