Tuesday, March 23, 2010
INDIAN gas firm Gail (india) is in talks with Interoil to buy a stake in upstream assets and new liquefied natureal gas terminals in Papua New Guinea, Gail chairman BC Tripathi said on Monday.
He also said Gail, along with partners Total and Shell, has been short listed to develop Nigeria's master gas plan.
Gail, which primarily forcussed on transmitting gas within the country through its huge pipeling network, is gradually diversifying into exploration business by acquiring stakes in global and local oil and gas assets.
Along with oil and Natural Gas, it owns a minority stake in two gas blocks in Myanmar.
It also has a presence in city gas distribution projects in Egypt and china. "We are also exploring the possibility of expanding our city gas operations in Egypt," Tripathi said.
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