{
  "id": 12958320,
  "title": "India’s GSPC seeks JKM-linked LNG cargoes via tender for the first time",
  "url": "https://urgent.news/2026/10/08/indias-gspc-seeks-jkm-linked-lng-cargoes-via-tender-for-the-first-time",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T21:00:27.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/indias-gspc-seeks-jkm-linked-lng-cargoes-via-tender-for-the-first-time/"
  },
  "original_language": "en",
  "account": "Gujarat State Petroleum Corp. has issued its first JKM-linked tenders to acquire LNG shipments for delivery in India starting April 2027, diverging from the norm of fixed-price agreements, according to a source familiar with the matter on October 6. The tender, which closes on October 12 at 3 pm IST, invites bids for two deliveries in April and September of the same year. Another tender, closing on October 13 at 3 pm IST, calls for monthly deliveries from April 2027 to March 2028. The seller must quote a discount relative to the JKM monthly average applicable to the month of delivery. Each cargo is expected to measure between 3.2 trillion and 3.4 trillion British thermal units, with a 5% operational tolerance and a 10-day delivery window to be designated by the seller. This development follows a similar step taken by Bharat Petroleum Corp. Ltd., which issued a spot tender for an LNG cargo delivery between November 21 and 30 at a JKM-linked price on September 23, culminating in an award on September 24. The price for this cargo was agreed upon at JKM December plus 30-35 cents per million British thermal units from a country with a free trade agreement with India. GSPC had previously procured three spot cargoes via tender in August and two more in September, all based on a fixed-price structure as prices surged from the low-$20s/MMBtu to nearly $29/MMBtu. Additionally, GSPC has incorporated a clause enabling the seller to convert the contract price from floating to fixed or vice versa at the buyer's request. Indian importers typically secure spot cargoes on a fixed-price basis, and during previous price surges, some faced downside risks after securing a cargo. Currently, Indian importers have been cautious in acquiring spot cargoes due to the concentrated arrivals of Middle Eastern supply following several transits through the Strait of Hormuz, as reported by multiple importers and traders.",
  "summary": "India’s Gujarat State Petroleum Corp. has issued JKM-linked tenders for the first time to buy LNG cargoes for delivery into India from April 2027, a source with direct knowledge of the matter said Oct. 6. This marks a departure from the fixed-price basis typically used by Indian importers. One of the tenders seeks two cargoes ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}