Spot prices at new highs-II: GAIL made a mistake swapping cargoes?
Did GAIL make a mistake going through a swap for its US cargos? 8The sharp rise in Asian LNG prices will mean that GAIL would have been better off not swapping its Henry Hub indexed gas offtake commitments with oil indexed deliveries for Asia and India. 8GAIL had panicked over the onerous task of offtaking from its US commitments to supply to India because of the adverse price differential as prices were ranging low when the swap decisions were taken. 8Clearly, the chickens have come home to roost now Click on Reports for more