GAIL India Mulls Stake Buy In Papua New Guinea LNG Project - Chairman

Date : 03/22/2010 @ 4:47AM
Source : Dow Jones News
Stock : Interoil Corp. (delisted) (IOC)
Quote : 48.36  0.0 (0.00%) @ 2:05AM

GAIL India Mulls Stake Buy In Papua New Guinea LNG Project - Chairman

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State-run GAIL (India) Ltd. (532155.BY) is exploring the possibility of investing in gas infrastructure projects in Nigeria, Ghana, Papua New Guinea and Egypt, its chairman said Monday.

"In Nigeria, we have been short-listed as one of the companies to develop the Nigeria gas master plan, worth about $7 billion," B.C. Tripathi told reporters on the sidelines of an industry conference.

"In Ghana, we are talking. Whenever the gas production starts we will process the gas and transport it to the desired location," Tripathi said.

He said the company is also examining the possibility of expanding its city gas distribution network in Egypt.

Tripathi said in Papua New Guinea, the natural gas transmission company is examining the possibility of picking an equity stake in a new LNG terminal with InterOil Corp. (IOC).

-By Rakesh Sharma and Sunil Raghu, Dow Jones Newswires; +91-11-4356-3305; santanu.choudhury@dowjones.com

 
 



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