News: As reported in Economic Times, GAIL India and Russia’s Gazprom are negotiating over the import of gas to India. Gazprom has possibly proposed to the firm that it buy gas from Gazprom Singapore and settle funds in euros in future trades.
View: The management had earlier stated that the 6-7% of its supply was disrupted post default by a Gazprom entity. This imported gas is expected to be procured at lower than spot LNG prices which will be beneficial on both supply and prices front for gas companies.
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