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Indian Oil seeks 50% stakes in very large gas carriers for U.S. LPG
The tender targets ships from 80,000 to 93,500 cubic meters, with a pre-bid meeting on Aug. 5 and bid deadlines set for Sept. 7.
Indian Oil Corp. is pursuing 50% ownership stakes in very large gas carriers, a first for an Indian refiner, as it looks to move larger volumes of U.S. liquefied petroleum gas tied to India’s plan to source up to one-quarter of its LPG imports from the United States in 2027.
According to coverage cited by OilPrice, IndianOil LNG is accepting bids for vessels with carrying capacity between 80,000 and 93,500 cubic meters, with an age limit of no more than 12 years, and bidders may submit for as many as two ships.
The company scheduled a pre-bid meeting for August 5 and set a September 7 deadline for commercial and technical bids, with acquired vessels to be registered under the Indian flag.
OilPrice also notes that freight costs are the main barrier to expanding U.S. LPG purchases, because cargos from the U.S. Gulf Coast travel farther than supply routes from the Middle East, raising delivered costs even when American propane and butane prices are competitive. It adds that India imported 21.85 million metric tons of LPG in 2025, with about 90% coming from the Middle East, and that disruptions involving the Strait of Hormuz contributed to India’s worst LPG shortage earlier this year.