GAIL, MOL sign long-term charter agreement for LNG Carrier at IEW 2026

New Delhi/Goa: GAIL (India) Limited has entered into a long-term charter agreement with Mitsui O.S.K. Lines Ltd (MOL), Tokyo, for an LNG carrier named “GAIL Bhuwan”, strengthening India’s LNG shipping and energy logistics capabilities.

PSU Watch is now on Whatsapp Channels. Click here to join

The agreement has been signed on January 27, on the sidelines of India Energy Week (IEW) 2026 in Goa. The charter contract has been executed between S. Bairagi, Executive Director (International Shipping & LNG) of GAIL, and Hisashi Umemura, Director General, Headquarters of Energy Business of MOL, in the presence of GAIL’s Chairman & Managing Director, functional directors and senior officials from both organisations.

The collaboration builds on the long-standing partnership between GAIL and MOL in the LNG shipping segment. The charter agreement has been signed between GAIL and LNG Japonica Shipping Corporation Limited, a joint venture company in which GAIL holds a 26 percent stake and MOL holds 74 percent.

According to the company, the agreement marks a significant milestone under the ‘Maritime Amrit Kaal Vision 2047’, reinforcing India’s maritime infrastructure and energy supply chain resilience. Leveraging MOL’s global expertise in LNG transportation, the partnership aims to ensure high standards of safety, operational efficiency and reliability in LNG shipping operations.

Both GAIL and MOL have also committed to ambitious net-zero emission targets, and the charter arrangement is expected to contribute towards the development of a low-carbon and decarbonised energy ecosystem.

MOL, under its group management plan ‘BLUE ACTION 2035’, has identified Asia as a key growth region and continues to expand its footprint in India’s rapidly growing energy market. Through the strengthening of its energy business and partnership with GAIL, MOL aims to contribute to the development of transport and logistics infrastructure supporting India’s rising demand for natural gas and ensuring stable energy supplies.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)