SCI, GAIL in talks for $3 bn LNG ships deal.

Shipping Corporation of India and GAIL (India) Limited are currently in discussion to forge a tie-up under which the latter will acquire nine LNG ships with almost $3 billion and the former will run them, a senior official of the SCI said. SCI Director (liner and passenger services) Sarveen Narula said the shipper will have an option to pick up stake up to 25 per cent once a joint venture company is formed for the purpose and talks are held through respective ministries. �We are trying to buy nine LNG ships, not through SCI but through GAIL. SCI will run those ships in partnership with GAIL. We are actively working with GAIL in selection of (other) partners. We may have the right to take up to 25 per cent of the stake in that (venture). "The Memorandum of Understanding is being finalised. We are already been in talks with them. Very soon it will be done. It is brokered through the Government," Narula told PTI.