GAIL and Alpha Gas Sign a Long-Term Charter Party Agreement for an LNG Carrier

GAIL (India) Limited, a Maharatna Public Sector Undertaking, has entered into a long-term charter party agreement with Alpha Gas, a leading Greek shipping major, for the LNG carrier "Energy Fidelity." The charter party agreement was executed between GAIL and Pantheon Maritime Services Private Limited, a Singapore based affiliate of Alpha Gas.

Shri S Bairagi, Executive Director (Mktg. - Shipping & International LNG), GAIL (India) Limited, and Ms. Anna Angelicoussis, Owner of Alpha Gas, signed the agreement at the Alpha Gas' headquarters in Athens.

The LNG carrier "Energy Fidelity," with a cargo capacity of 174,000 cubic meters, is equipped with a state-of-the-art two-stroke propulsion system, complemented by advanced air lubrication technology and shaft generators, collectively enhancing fuel efficiency and significantly reducing emissions. The charter party agreement marks a key milestone for GAIL (India) Limited under the 'Maritime Amrit Kaal Vision 2047', further strengthening India's maritime infrastructure and energy supply chain capabilities.

Shares of GAIL (India) Limited was last trading in BSE at Rs. 145.25 as compared to the previous close of Rs. 143.15. The total number of shares traded during the day was 1120091 in over 5859 trades.

The stock hit an intraday high of Rs. 145.75 and intraday low of 141.05. The net turnover during the day was Rs. 160916863.00.

Source : Equity Bulls

Keywords

GAILIndia INE129A01019 AlphaGas LongTerm CharterPartyAgreement LNGCarrier