GAIL seeks up to 26% stake in liquefied natural gas project in US

GAIL (India) Limited issued a tender on Friday to buy up to 26% stake in a liquefied natural gas (LNG) project in the US. GAIL wants 1 million metric tons of LNG per year from a plant in the US on a 'free-on-board' basis for 15 years. India is also reportedly considering scrapping its import tax on US LNG.