MOSCOW (Reuters) - Russia's Yamal LNG plant is set to resume liquefied natural gas (LNG) supplies to India's GAIL under a long-term contract involving a Gazprom (MCX:GAZP) unit, Kommersant daily reported on Wednesday citing Russian government sources.
Novatek, Yamal LNG's main shareholder, has not replied to a request for comment.
Kommersant said that supplies under the deal were suspended in 2022 when Germany seized assets of Russian energy giant Gazprom.
GAIL agreed to a 20-year deal with Gazprom Marketing and Trading Singapore (GMTS) in 2012 for annual purchases of an average of 2.5 million tonnes of LNG on a delivered basis.
At the time, GMTS was a unit of Gazprom Germania, now called SEFE, but the Russian parent gave up ownership of SEFE after Western sanctions.
The initial contract with GMTS was also for supplies from the Yamal project in the Arctic, but the former Russian entity was arranging supplies from elsewhere to cut freight costs as the deal was done on delivered basis, industry sources said earlier this year.
Kommersant said on Wednesday that the issue of LNG supplies to India has been resolved. It said, citing a source, that the deliveries are set to resume in the previous volumes in nearest future.