In front of the Minister for Petroleum and Natural Gas, Hardeep Singh Puri, GAIL (India) Limited, Kawasaki Kisen Kaisha, Ltd. (“K” LINE), and J M Baxi Marine Services signed a term sheet for equity participation in a Singapore-based ship-owning business.
Additionally, GAIL has arranged a long-term charter for an LNG vessel that is presently being built in a Korean shipyard and is scheduled to start in 2027. GAIL Global IFSC Limited will handle the investment, subject to DIPAM approval.
Sandeep Kumar Gupta, Chairman and Managing Director of GAIL, highlighted the strategic advantages of acting as a charterer and owning a portion of the shipping company, which helps the shipping sector align with the Prime Minister’s “Aatmanirbhar Bharat” goal.
While Dhruv Kotak from J M Baxi Group stated that this partnership represents a critical step towards clean energy transportation and a commitment to resilient, sustainable supply chains that align with India’s transition to clean energy and responsible growth, Satoshi Kanamori of “K” LINE emphasised that the partnership aims to leverage the strengths of the three companies to enhance LNG shipping for India.
