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Gail India proposes 7 U.S. LNG cargo swaps from Cove Point facility

LONDON/SINGAPORE, March 16 (Reuters) -

** Gail India proposes swapping seven LNG cargoes across May-October 2018, according to the tender document and traders.

** The Indian importer has 20-year deals to buy 5.8 million tonnes per annum of U.S. LNG in total, split between Dominion Energy's Cove Point plant and Cheniere Energy's Sabine Pass.

** With few tankers to ferry the fuel to India, Gail has already struck swap deals for a chunk of its Sabine Pass volumes, and is extending that programme to cover Cove Point output.

** Under the swap, Gail sells its share of output from U.S. export plant Cove Point on a free-on-board basis in return for taking delivery of equal amounts of LNG to India's Dahej/Hazira import terminal.

** Gail offers a Cove Point cargo loading in May 5-15 and asks for corresponding delivery to India on May 1-10.

** Gail offers Cove Point cargo on June 15-25, July 5-15 and August 1-10 but dates for corresponding deliveries to India are yet to be finalised, according to the document.

** Gail offers Cove Point cargo on Sept. 1-10 with corresponding Indian import scheduled for Sept. 1-15.

** Gail offers Cove Point cargo on Oct. 1-10 with corresponding Indian import on Oct. 10-31.

** Participants must submit proposals on or before March 20 and the tender is valid until March 22. (Reporting by Oleg Vukmanovic in London and Jessica Jaganathan in Singapore; Editing by Mark Potter)