| Log in

GAIL joins hands with EDF to acquire and develop oil & gas assets in North America

07 February, 2013

State-controlled GAIL (India) Ltd and EDF Trading have signed a memorandum of understanding (MoU) to jointly acquire and develop upstream oil and gas assets in North America and to partner in the trading of US gas and LNG.

“The advent of shale gas in the US bodes very well for the global hydrocarbon landscape and this partnership is expected to look for business opportunities in this exciting space in order to enhance the oil and gas sourcing prospects for India,” said M Veerappa Moily, union minister of petroleum and natural gas.

GAIL provides liquefied petroleum gas, liquid hydrocarbons and petrochemicals, and has extensive infrastructure in the mid-stream and downstream gas value chain in India. The expansion will, however, pitch it against another state-controlled energy firm ONGC, which is into exploration and development of such assets.

“There are significant opportunities in the North American gas markets and we are pleased to be partnering with GAIL, one of the world’s leading gas companies, in jointly developing this business,” said John Rittenhouse, chief executive of EDF Trading.

EDF Trading offers various services including supply and delivery, terminal operations, re-gasification and nominations into networks. It is part of the French energy giant EDF.

(Edited by Sanghamitra Mandal)


Leave Your Comment
GAIL signs deal with US-based Dominion for LNG liquefaction terminal

GAIL signs deal with US-based Dominion for LNG liquefaction terminal

Bhawna Gupta 4 years ago
State-controlled GAIL (India) Ltd, through its American subsidiary GAIL Global ...
GAIL Buying 20% In Shale Gas Asset Of NASDAQ-listed Carrizo For $95M

GAIL Buying 20% In Shale Gas Asset Of NASDAQ-listed Carrizo For $95M

Anil Das 6 years ago
State-run GAIL (India) Ltd has built its first shale gas asset in the USA by...
News Roundup: JSPL offers to buy Gujarat NRE for $231M

News Roundup: JSPL offers to buy Gujarat NRE for $231M

TEAM VCC 5 years ago
Naveen Jindal-controlled Jindal Steel & Power (JSPL) has offered to buy...
No Comments

GAIL joins hands with EDF to acquire and develop oil & gas assets in North America

Powered by WordPress.com VIP