Gail India Ltd Reg SOTC Markets
Sep. 19, 2014, 10:50 AM
- The worldwide gas glut is prompting Japanese and Indian firms to resell some of the U.S. liquefied natural gas they had committed to buy several years ago, signaling tempered enthusiasm for U.S. energy, Reuters reports.
- Japanese utilities Tokyo Gas and Osaka Gas as well as India's Gail are dialing back on their U.S. LNG commitments via stake sales to European traders and utilities after realizing they can't handle the initial surge of volume due to low demand at home.
- Tokyo Gas, which bought 1.4M metric tons/year of LNG over 20 years from Dominion's (NYSE:D) Cove Point, reportedly has offered to sell 0.75M tons/year to at least one European energy firm; Gail is offering 1M metric tons/year for its first five years of supply from Cheniere Energy's (NYSEMKT:LNG) Sabine Pass project.
- ETFs: UNG, DGAZ, UGAZ, BOIL, GAZ, KOLD, UNL, NAGS, DCNG
Aug. 25, 2010, 8:28 AMA senior official in India's oil ministry flatly denies state-run energy firms Oil & Natural Gas Corp. and GAIL India (GAILF.PK) may make a counteroffer for a stake in Cairn India (CRNCY.PK). There is "no chance" of a counterbid because the valuation from Vedanta (VDNRF.PK) is already "very high." | Aug. 25, 2010, 8:28 AM
Aug. 24, 2010, 8:20 AM