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GAIL (India) Limited and Mitsui O.S.K. Lines (MOL) have signed a ten-year charter agreement for the LNG carrier GAIL Bhuwan, replacing the previous five-year contract that began in 2021. The vessel operates under a joint venture, LNG Japonica Shipping Corporation Ltd, with MOL holding 74% and GAIL 26%. This long-term renewal strengthens the companies partnership in LNG shipping and energy logistics, supports India's growing natural gas demand, and aligns with the Maritime Amrit Kaal Vision 2047 to enhance the country's maritime infrastructure and energy supply chain resilience.
GAIL (India) Limited, the nation's largest natural gas utility, and Japan-based Mitsui O.S.K. Lines (MOL) have formalized a new ten-year charter agreement for the LNG carrier GAIL Bhuwan. The deal was signed at India Energy Week 2026 in Goa by Hisashi Umemura, Senior Managing Executive Officer of MOL, and S Bairagi, Executive Director of GAIL's International Shipping & LNG division. Advertisement
The vessel will continue to be operated under LNG Japonica Shipping Corporation Ltd, a joint venture where MOL holds a 74% stake and GAIL 26%. The earlier five-year charter for GAIL Bhuwan, arranged in 2021 through an MOL subsidiary, was due to end this year. GAIL's equity stake in this vessel is unique among the six LNG carriers it currently charters from global owners, including two agreements each with MOL and NYK Line of Japan.
GAIL has developed a large and diversified LNG portfolio, with a global capacity of around 14 million tonnes per annum (MMTPA), to ensure stable long-term supply. The company has also built the largest LNG fleet in India as part of its logistics integration strategy. These steps strengthen India's maritime capabilities and ensure uninterrupted LNG availability to meet rising domestic demand.
MOL, the world's second-largest ship owner by fleet size, emphasized that this charter renewal will enhance cooperation in LNG shipping and energy logistics. The agreement supports India's Maritime Amrit Kaal Vision 2047, aimed at reinforcing maritime and energy supply chain infrastructure. Both companies have also committed to net-zero emission targets, with this charter contributing to lower-carbon operations.
MOL has made Asia a key focus under its group management plan BLUE ACTION 2035, targeting strong regional economic growth. Through this and other initiatives, MOL continues to expand its energy business in India and strengthen collaboration with GAIL. The agreement ensures that India's LNG transport and logistics infrastructure remains robust and reliable as domestic demand for natural gas continues to grow.
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