Indian Oil Corp and GAIL Ltd may buy stake in LNG projects in Africa, Business Standard reported, citing India’s Oil Minister S Jaipal Reddy.
“ Our companies such as GAIL, Petronet LNG and IOC are interested in sourcing LNG on a long-term basis from Africa; explore possibilities of equity participation in existing/proposed LNG liquefaction projects; business opportunities in gas processing and gas-based petrochemical projects in Africa; and farm-in opportunities in producing gas blocks for conversion to LNG and dispatch to India ,” he said.
Recently, he said in a speech at World Petroleum Conference in Doha, that India is interested to invest in foreign LNG terminals to help meet its growing gas demand.
[mappress]
LNG World News Staff, December 9, 2011; Image: Petronet LNG