Gail (India) is to receive 2.5 million tonnes of LNG from Gazprom over a period of 20-years under a new agreement. Volumes will come from the Russian gas giant’s own production facilities and will be sustainably priced using an oil-indexed formula. The deal follows an earlier basic framework agreement between the two companies signed on 18 May 2011. According to the managing director of Gail (India) B C Tripathi ,“the deal also marks our efforts to create a well-diversified and secured supply portfolio to meet the ever growing energy requirements”.