Mahua Moitra applauds GAIL as company floats EoI to buy stake in US LNG project
India's biggest gas firm is looking to buy up to 26% stake in a LNG project in the United States in an attempt to shore up supply sources to meet rising demand.
PremiumTrinamool Congress MP Mahua Moitra applauded GAIL (India) on Monday for floating an expression of interest and following a transparent route for public sector procurement. GAIL (India) announced plans to explore an equity stake buy of up to 26% in an American LNG project.
The remarks come days after the lawmaker lashed out at TotalEnergies, alleging that it obtained 'a contract without a tender'.
“Thank god my kartavya path is helping bring transparency in public sector procurement. Direct negotiations without following due process was a sham," the TMC leader tweeted, sharing screengrabs of the company's ‘expression of interest’ for acquiring the liquefaction plant.
In 2019, the TMC MP had alleged that state-owned Indian Oil Corporation and GAIL "signed ₹46,500 crore use or pay contract for LNG terminal at Dhamra with Adani without tender process". Amid the Adani-Hindenburg row she had shared screenshots of her earlier tweet as a reminder.
According to a document issued by GAIL it is "exploring the opportunity" to buy equity from an existing or post-commissioning of a proposed LNG liquefaction plant or project in the US - either directly or through its affiliates.
The document did not mention how much the Indian gas distributor had earmarked for any possible deal.
"In addition, GAIL, directly or through any of its affiliates, is interested to source 1 million tonnes per annum LNG from the LNG liquefaction plant or project on a free-on-board basis for a period of 15 years on mutually acceptable terms and conditions," it said.
(With inputs from agencies)
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