India's GAIL and Gazprom in Talks Over Gas Supply, Reports Suggest
Gazprom Marketing Trading Singapore signed a 20-year deal with GAIL in 2012 to supply 2.5 million tonnes of LNG per year.
The news outlet said Russia had defaulted on eight of the minimum 36 LNG shiploads scheduled for 2022 due to Western sanctions, forcing GAIL to slash supplies to client.India and Russia are reportedly considering recognizing each other’s national payments systems — India's RuPay and Russia's Mir — which will boost bilateral trade. Russia may also want India to pay for gas in euros, the outlet suggested.
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