“GAIL subsidiary signs agreement to procure natural gas for liquefaction at Cove Point, US”
New Delhi, December 5, 2014: GAIL (India) Limited today announced signing of a sourcing agreement between its subsidiary GAIL Global USA LNG LLC ( GGULL ) and US-based company WGL Midstream Inc. ( WGLM ) for procurement of natural gas required to produce about 2.5 MTPA of LNG at the Cove Point Terminal located in Maryland, US. WGLM is a subsidiary of WGL Holdings Inc., a prominent natural gas company of the United States.
M/s Pace Global (a Siemens business), M/s Thompson & Knight & M/s Amarchand Mangaldas assisted GAIL on commercial and legal aspects of the transaction. WGL Midstream engaged Vega Energy Partners, Ltd., for the execution of these transactions. Vega will also play an ongoing role in the implementation of these contracts.