GAIL initiates legal proceedings against Gazprom for non-availability of LNG
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GAIL India Chairman and Managing Director SK Gupta said the company is seeking compensation from Gazprom for the loss caused due to non-supply of LNG. However, he did not disclose the amount sought. Gupta said the matter has been put up for arbitration in London and an arbitrator has also been appointed.
State-owned gas company GAIL India Ltd on Friday said it has initiated legal proceedings against a unit of Russian company Gazprom for non-supply of LNG. GAIL India Chairman and Managing Director SK Gupta said the company is seeking compensation from Gazprom for the loss caused due to non-supply of LNG. However, he did not disclose the amount sought. Gupta said the matter has been put up for arbitration in London and an arbitrator has also been appointed.
However, Gazprom is yet to nominate its representative. In February last year, Gazprom had stopped supplies of liquefied natural gas (LNG) to GAIL in the wake of Russia’s invasion of Ukraine. GAIL had an LNG supply agreement with the German subsidiary of Gazprom. But after Russia’s invasion of Ukraine, the German government took control of that subsidiary and barred it from receiving any supplies from Russia. Due to this the gas supply was also disrupted.
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