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Report: India's GAIL putting 3 LNG cargoes from Sabine Pass up for sale

The natural gas company GAIL (India) Ltd. launched offers to sell three LNG cargoes from Cheniere Energy Inc.'s Sabine Pass export terminal from May to July, Reuters reported March 27, citing statements from two traders.

Prices for the cargoes would be based on the Henry Hub gas price benchmark, the report said. The tender is scheduled to close March 29, with same-day validity.

GAIL previously offered LNG cargo swaps from Dominion Energy Inc.'s Cove Point export terminal and already has a deal with Sabine Pass for a similar undertaking. Gail has 20-year contracts to buy 5.8 million tonnes per annum of LNG from Cove Point and Sabine Pass.