The agreement, set to begin in 2026, spans 10 years, with Vitol delivering LNG to GAIL from its global LNG portfolio.
GAIL stated that India emerged as the fourth-largest LNG importer in 2024, with demand projected to rise steadily over the next decade.
The company added that the centre has set a target to increase the share of natural gas in the country’s primary energy mix from the current 6% to 15% by 2030. India’s LNG regasification capacity has also seen significant growth, nearly doubling from 21 MMTPA in 2014.
Speaking on the occasion, Sanjay Kumar, Director (Marketing), GAIL, stated that, “GAIL is expanding its long-term LNG portfolio to meet demand growth. We are pleased to partner with Vitol Asia, and this agreement represents a key milestone in reinforcing GAIL’s capability to reliably serve its diverse and evolving customer base."
Jay Ng, chief financial officer, Vitol Asia and executive committee member, said, “Vitol is honoured to extend itsrelationship with GAIL to a long term LNG supply contract. The growing Indian market is core to Vitol’s strategy and Vitol’s diversified portfolio enables it to offer India a stable supply of cleaner and competitive energy.”
GAIL (lndia) is the largest state-owned natural gas processing and distribution company in the country. It has a diversified business portfolio and has interests in the sourcing and trading of natural gas, production of LPG, liquid hydrocarbons and petrochemicals, transmission of natural gas and LPG through pipelines, etc.
On a consolidated basis, GAIL (India)'s net profit rose 0.09% to Rs 2,491.76 crore while net sales rose 11.3% to Rs 36,442.09 crore in Q4 March 2025 over Q4 March 2024.
Shares of GAIL (India) rose 0.84% to Rs 184.53 on the BSE.