GAIL, 'K' LINE and J M Baxi Marine Services enter into Term Sheet for Equity in a Shipping Company

GAIL (India) Limited, Kawasaki Kisen Kaisha, Ltd. (“K” LINE), and J M Baxi Marine Services have signed a Term Sheet for equity participation in a ship-owning company established in Singapore. The signing took place in the presence of Shri Hardeep Singh Puri, Hon’ble Minister for Petroleum and Natural Gas, Government of India. GAIL has signed a long-term charter with the ship-owning company starting from 2027. The LNG vessel is currently under construction in Korean Shipyard. GAIL’s investment in the ship-owning company is planned through its wholly owned subsidiary company - GAIL Global IFSC Limited, which is registered in GIFT City, Gujarat. This partnership aims to build a resilient and sustainable LNG shipping platform for India, aligning the complementary strengths of the three trusted companies.