New Delhi: As India and the US negotiate a commerce deal, chairman and managing director of state-run fuel utility GAIL Ltd Sandeep Kumar Gupta stated that there’s potential for import of extra liquefied pure fuel (LNG) from America and enhance its share in India’s vitality basket.
Addressing the media on Tuesday, Gupta stated that at present costs, import of pure fuel from the US “makes good sense”. At the moment, the spot worth of pure fuel at Henry Hub, US, is round $3.4 per MMBtu (Million British Thermal Items). Gupta stated that costs are anticipated to stay in a spread of $3.5-4 per MMBtu within the close to time period.
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Henry Hub serves because the official supply location for pure fuel futures contracts traded on the New York Mercantile Change. This makes it a vital benchmark for North American pure fuel costs.
“We have already got a really enticing portfolio. In our previous portfolio, 5.8 trillion tonne is coming from the US. There’s nice potential for different gamers additionally to extend their offtakes from the US. And at nation degree, I believe we’ve got an amazing urge for food for US LNG. If the HH (Henry Hub) costs are say round $3.4 to $4 which is the current vary, I believe this makes an excellent sense in importing US volumes. There’s a nice flexibility if we contact on FOB (freight on board) foundation, as a result of we will swap the US cargos additionally at an opportune time, so we consider there’s a nice potential,” Gupta stated.
This comes at a time when India and the US are holding talks for a bilateral commerce settlement and India is predicted to extend its oil and fuel imports from the US.
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The corporate has obtained 5 proposals for fairness stakes in US LNG tasks, every linked with affords for long-term LNG provide contracts, stated the director (enterprise growth) Rajeev Kumar Singhal. GAIL final month floated a young searching for as much as 26% stake in a US LNG undertaking, bundled with a 15-year LNG provide contract. GAIL’s newest tender is a revival of an identical course of kicked off by the general public sector entity in FY23. It was stalled when the erstwhile US administration put a freeze on new LNG export permits for tasks in 2024.
On Tuesday, the corporate reported a 1.26% uptick in its consolidated web revenue for the January-March quarter to ₹2,505.61 crore. Its web revenue throughout the identical interval of the earlier fiscal (FY24) was ₹2,474.31 crore.
Its whole revenue through the fourth quarter of FY25 rose 11.71% on a year-on-year foundation to ₹36,943.51 crore.
For FY25, its consolidated web revenue jumped 26% to ₹12,462.87 crore, and its income rose 6.3% to ₹1.31 trillion.
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Its board of administrators has advisable a closing dividend of ₹1 per fairness share, with a face worth of ₹10 per fairness share for the monetary 12 months 2024-25, topic to shareholder approval on the upcoming annual normal assembly (AGM). That is along with the interim dividend of ₹6.50 per fairness share.
The corporate incurred a capital expenditure of ₹10,512 crore throughout FY25.
Throughout the 12 months, its pure fuel transmission quantity grew 6% to 127.32 mmscmd (million customary cubic meter per day) as in opposition to 120.46 mmscmd in FY24. Gasoline advertising and marketing quantity stood at 101.49 mmscmd in FY25, in comparison with 98.45 mmscmd in FY24.
