GAIL to double gas imports; eyes petrochemical joint ventures in Qatar, Russia
By Our Corporate Bureau | 29 Oct 2007
At present, India imports five million tonnes of liquefied natural gas a year from Qatar, which goes to the Petronet LNG regassification plant at Dahej in Gujarat.
The country is dependent on imports to meet half its daily gas demand of 200 million standard cubic metres.
"Qatar is to provide five million tonnes a year more of liquefied natural gas from the fourth quarter of 2009," GAIL chairman Upendra Choubey said in an interview in Doha yesterday.
GAIL, he said, was also in talks with state-owned Qatar Petroleum to build a petrochemicals plant in Qatar. The proposed plant would have capacity to produce one million tonnes of polymers a year for export, Choubey said.
GAIL is also eyeing petrochemical plants in Russia as it transforms itself to a $10 billion company by next century.
Choubey is in Qatar as part of the high-level delegation led by petroleum minister Murli Deora.
Last week, Choubey met the board of Russia's LUKOIL and discussed the possibility of setting up a petrochemical plant jointly with it. He also held separate talks with LUKOIL and gas utility Itera in Moscow for a petrochemical plant in the former Soviet republic.
GAIL is also interested in picking a stake in LUKOIL's onland gas-rich Block A in Saudi Empty Quarter, near Ghawar in Saudi Arabia, he said. GAIL and LUKOIL may set up a petrochemicals plant in Saudi Arabia based on the gas in the field, and also export the fuel to India in form of LNG. LUKOIL has 80 per cent in the 29,000 sq km area while the remaining 20 per cent is with Saudi Aramco.
