GAIL Eyes Stake In Saudi Gas Field

State gas utility GAIL India is eyeing a stake in Russian oil firm Lukoil''s gas field in Saudi Arabia. It is also in talks with the Russian firm for setting up a gas-based petrochemical project in the former Soviet republic. Separately, GAIL is in discussions with Russian gas firm Itera for setting up a city gas distribution network in Moscow to retail compressed natural gas to automobiles and a methane-based petrochemical plant in Russia. The board of Lukoil and discussed possibilities of establishing a petrochemical plant jointly with the Russian firm and evinced interest in GAIL picking a stake in the onland gas-rich Block A in Saudi Empty Quarter, near Ghawar.