GAIL is pursuing opportunities for setting up of petrochemicals projects in other countries. Currently, GAIL is looking for investment opportunities in Middle East, Russia, CIS and African countries.
GAIL has signed Memorandum of Understanding (MoU) with Reliance Industries Limited on 4th December, 2007. The major area of cooperation agreed in the MoU is setting up gas-based Petrochemical Complexes in gas rich countries.
MoU between GAIL & Oil India Limited (OIL) has been signed on 27th December, 2007. GAIL and OIL agreed inter alia to examine various opportunities available in the petrochemicals sector in India as well as abroad.
GAIL and ITERA Oil and Gas Company have signed an MoU on 13th February, 2008 and agreed to participate in methane based Petrochemicals projects in Russia.
The above information was given by the Minister of State for Petroleum & Natural Gas Shri Dinsha Patel in a written reply in the Lok Sabha.
Press Information Bureau Government of India
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