Russia’s Gazprom said October 1 that it had signed a landmark deal to supply liquefied natural gas (LNG) to GAIL (India) Limited. This marks the first long-term sale of LNG by Gazprom -- through its subsidiary Gazprom Marketing and Trading Singapore (GMTS) -- into the Indian market.
GAIL will receive an annual volume of 2.5 million tonnes of LNG, sourced from Gazprom’s production facilities and global trading portfolio. The gas will be delivered to Indian LNG import terminals at Dahej, Dabhol, and Kochi.
Baker Botts’ London and Hong Kong offices advised on the LNG sale and purchase agreement that included challenging negotiations in London, Singapore, New Delhi, and Moscow. The two companies said they plan to explore further LNG opportunities in India.
“We are delighted to have assisted Gazprom to conclude a strategically important deal, being its first long-term sale of LNG into the Indian market,” said Mark Rowley, the London-based partner for Baker Botts who led the deal. “We enjoyed a very close working relationship with an excellent Gazprom team. It was extremely satisfying to use our LNG expertise, and international experience, to assist our client in achieving a good result.”
Baker Botts is an international law firm with over 725 lawyers and a network of 14 offices around the globe. The 172-year-old Houston firm is recognized for its work in the energy, technology, and life sciences sectors.