Business Standard

Govt holding bilateral talks over Gazprom-GAIL issue, won't seek penalty

The centre may neither pursue arbitration with Gazprom, the world's largest natural gas explorer, nor accept a penalty from the company after it halted supplies to GAIL in May

Photo: Bloomberg
Premium

Photo: Bloomberg

BS Web Team New Delhi
The central government is bilaterally dealing with the failure of Russia's Gazprom deal with the state-run Gas Authority of India Limited (GAIL) (India) to supply liquefied natural gas (LNG), reported Livemint quoting officials aware of the development. 

The centre may neither pursue arbitration with Gazprom, the world’s largest natural gas explorer, nor accept a penalty from the company after it halted supplies to GAIL in May, the officials told Livemint. The government officials added that bilateral efforts are underway to resolve the vexed issue. 

Gazprom’s former subsidiary, Gazprom Marketing and Trading Singapore (GMTS) signed an agreement with GAIL to supply

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 19 2022 | 8:56 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com