Gail seeks stakes in gas assets abroad

Setate-run Gail (India) Ltd is in talks with several entities to acquire stakes in foreign gas-producing assets, said chairman and managing director Sandeep Kumar Gupta as India pushes efforts to achieve energy security.

- Rituraj Baruah

The company is interested in assets that are either already producing or on the verge of producing gas, Gupta said in an interview.

"We always keep looking out for possibilities the world over and if there are assets, especially if there are producing assets available or nearproducing assets available, we will be more than interested to have our stakes in those assets.

Several discussions are also going on," he said.

Gail, which already holds stakes in 10 exploration and production blocks in the country, has participating interest in two blocks-AI and A3-in Myanmar and 20% stake in a shale gas joint venture in Eagle Ford Basin, Texas, US.