Gail eying global pipeline projects
AFTER losing its near monopoly in the domestic gas pipeline business after the new pipeline policy was announced, public sector company Gail India (Gail) is now seeking participation in international gas pipeline projects. Besides the three transnational projects from Iran, Turkmenistan and Mynamar to India, the company is learnt to have been interested in picking up stakes in pipelines in Libya, Algeria and Nigeria. Confirming the development, Gail chairman and managing director U D Choubey said: “We are seeking equity in trunk gas pipeline projects overseas. The Libyan government has recently called for expressions of interest (EoI) for a pipeline project and we have indicated our interest. We are also keen to be part of the $13-billion gas pipeline from Nigeria, Algeria to European markets.” However, he declined to comment on how much Gail would invest in the ventures. Algerian company Sonatrach and Nigerian national oil firm Nigeria National Petroleum Corporation are also likely be part of the trans-Sahara pipeline project. Nigeria and Algeria are looking for international partners to fund this project. It is believed these pipelines would be built by the consortium and individual stakes will depend upon the EoI from various players.