GAIL India eyes petrochemical plants in Russia and Qatar

31-Oct-07

As part of its plans to become US$10 bln company by next century, India's state gas utility GAIL India is eyeing petrochemical plants in Russia and Qatar. GAIL plans to build a plant in Qatar with a capacity to produce 1 mln tons of polymers for exports. Talks have been underway with Russian oil firm Lukoil and gas utility Itera in Moscow for a petrochemical plant in the former Soviet republic. 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% stake in the 29,000 sq km area while the remaining 20% stake is with Saudi Aramco.