India's largest gas firm GAIL has a long-term deal to import 2.85 million tonnes of liquefied natural gas (LNG) per annum from a Singapore-based unit of Russian gas producer Gazprom.
The revised forecast is mostly due to expectations of slower economic growth rather than buyers switching from gas to coal, oil or renewable energy.
State-owned GAIL on Friday said it is open to buying Russian oil and gas assets, shunned by Western companies following Russia’s invasion of Ukraine.
Security has been up in Rampurhat to ensure that no untoward incident takes place during Chief Minister Mamata Banerjee's scheduled visit later during the day.
The shipment is being sent under a twenty-year agreement between Indian gas utility major GAIL India and US-based Cheniere Energy’s Sabine Pass liquefaction facility in Louisiana.
Gas will be imported from countries like Australia, Qatar in cape size vessels and will be supplied to Allahabad of Uttar Pradesh through over 2500 km long pipeline, the minister said.
The country’s interim Prime Ministerial candidate Shahid Khaqan Abbasi is facing an inquiry by the National Accountability Bureau over an illegal contract to import Liquefied Natural Gas.