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Tuesday, October 17, 2017

GAIL Scraps $7-bn LNG Tender

November 13, 2016

Photo: GAIL India Ltd

Photo: GAIL India Ltd

 Indian state-owned energy firm GAIL India Ltd has scrapped a USD 7 billion tender for hiring newly built ships to ferry LNG from US after bidders did not agree to 'Make-in-India' terms, says a report by PTI.

Gail will now hire the ships from the global spot or current market to transport LNG.
Gail, which was forced by the oil ministry to add the ‘Make-in-India’ condition to its tender, will now hire the ships from the global spot or current market to transport LNG, a senior official with knowledge of the matter said.
Two Japanese bidders—a consortium of Mitsui OSK Lines (MOL)-Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui and Co. and a consortium comprising Mitsubishi Corporation-Kawasaki Kisen Kaisha Ltd (K Line) and GasLog, had sought several deviations from the tender conditions, which were not agreeable to Gail. 
“We discussed with both the bidder the deviations they sought for over six months but when they didn’t agree, we were left with no option but to cancel the tender,” the official said.
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