GAIL eyeing stake in InterOil Papua New Guinea assets

Indian gas firm GAIL (India) Ltd is in talks with InterOil to buy a stake in upstream assets and new liquefied natural gas terminals in Papua New Guinea, GAIL chairman BC Tripathi said on Monday.        

He also said GAIL, along with partners Total and Shell, has been short listed to develop Nigeria's master gas plan.                     

GAIL, which primarily focussed on transmitting gas within the country through its huge pipeline network, is gradually diversifying into exploration business by acquiring stakes in global and local oil and gas assets.                                            

Along with Oil and Natural Gas Corp, it owns a minority stake in two gas blocks in Myanmar.                                            

It also has a presence in city gas distribution projects in Egypt and China. "We are also exploring the possibility of expanding our city gas operations in Egypt," Tripathi told reporters.                      

Tripathi said his firm was also talking to Ghana to process gas, as and when it was produced, and transport it to the desired location.