GAIL settles $1.8-bn claim against former Gazprom unit for $285 mn

GAIL (India) Ltd has agreed to a $285 million settlement with SEFE Marketing & Trading Singapore Pte Ltd over a $1.817 billion compensation claim for undelivered LNG. GAIL initiated legal proceedings in December 2023, following non-delivery under a long-term deal. SEFE had halted supplies in June 2022 due to sanctions on Russia after the Ukraine invasion.