GAIL eyes petrochemical plants in Qatar and Russia

Oct 29, 2007 01:00 AM

State gas utility GAIL India is eyeing petrochemical plants in Russia and Qatar as part of its plans to become $ 10-bn company by next century.
GAIL Chairman and Managing Director U.D. Choubey, who opened a window of opportunity in Russia, is in Doha for talks with state-owned Qatar Petroleum to build a petrochemical plant in Qatar, official sources said.

The India's largest natural gas distributor wants to build a plant in Qatar with a capacity to produce 1 mm tons of polymers for exports. Polymers are used to make car parts and machinery.
Sources said Choubey, who is part of the high-level delegation led by Petroleum Minister Murli Deora, is also seeking liquefied natural gas (LNG) from Qatar.

He held separate talks with Russian oil firm LUKoil and gas utility Itera in Moscow for a petrochemical plant in the former Soviet republic. Choubey met the board of LUKoil and discussed possibility of setting up a petrochemical plant jointly with the Russian firm.
He also evinced interestin GAIL picking a stake in LUKoil’s onland gas-rich Block A in Saudi Empty Quarter, near Ghawar in Saudi Arabia.

GAIL and LUKoil may set up a petrochemical plant in Saudi Arabia based on the gas in the field as also export the fuel to India in form of LNG.
LUKoil has 80 % in the 29,000 sq km area while the remaining 20 % is with Saudi Aramco.

Source / PTI
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