(a) whether the Gas Authority of India Limited has proposals to venture into oil and gas sector of foreign countries;
(b) if so, the details thereof;
(c) the countries wherein the GAIL has ventured so far and the countries wherein the GAIL would like to venture into their oil and gas sector in the future; and
(d) the reasons behind such foreign ventures by the GAIL?
MINISTER OF PETROLEUM & NATURAL GAS & PANCHAYATI RAJ (SHRI MANI SHANKAR AIYAR)
(a) to (d): A statement is placed on the Table of the House.
STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (d) OF THE STARRED QUESTION NO. 207 TO BE ANSWERED ON 17.3.2005 REGARDING FOREIGN VENTURES BY GAIL RAISED BY SHRI RAJESH VERMA, MP.
(a) to (d): GAIL has ventured into a number of oil & gas sector projects abroad. GAIL has a 10% participating interest in block A1 in Myanmar. In Egypt, it has acquired a 19% participating interest in the Fayum Gas Company (FGC), 22% participating interest in Shell CNG (SCNGE), Egypt and 15% participating interest in National Gas Company (Natgas). It has entered into a share subscription agreement with China Gas Holding Company for the purchase of 10% equity. Besides these ventures, GAIL is having interests and pursuing projects in Iran, Russia, Turkey, Kazakhstan, Australia, Bangladesh and the Philippines.
GAIL is pursuing business opportunities globally in the area of its core competence while focussing on opportunities for increasing the availability of gas/LNG in the country, thereby enhancing the nation’s energy security.