GAIL, RIL Eyeing At Joint Projects In Qatar, Russia

New Delhi, March 13 GAIL (India) Ltd and Reliance Industries Ltd (RIL) are studying prospects of joint petrochemicals projects in Qatar and Russia. GAIL said that a joint working group, established by the two companies, is likely to submit its report in April on the feasibility of the projects. Out of 11 countries where such opportunities were conceived, the working group has narrowed down two-three countries. The 11 countries, which the task force has been eyeing at, include Saudi Arabia, Algeria, Nigeria, United Arab Emirates and CIS countries. Both GAIL and Reliance have been showing interest in setting up petrochemical projects overseas. Last year, the public sector gas transmission and marketing major and the private sector company had signed a memorandum of understanding (petrochemicals) for joint cooperation in petrochemicals. Under the petrochemicals, GAIL and petrochemicals would explore opportunities for setting up petrochemical complexes overseas in feedstock rich countries.

GAIL is also aiming for another Indian company as partner for its likely business venture with Russian oil firm Lukoil. GAIL has been in negotiations with Lukoil for building a petrochemical plant and liquefied natural gas (LNG) terminal in Saudi Arabia. GAIL and Lukoil have formed a joint working group for the purpose. Besides Lukoil, GAIL is also in negotiaons with Qatar''s state-owned Qatar Petroleum to build a petrochemical plant in that country.