GAIL seeks assured gas supply from Qatar for US$1.3 bln Qatari petrochem plant with RIL

23-Mar-10

India’s state owned oil major GAIL India Ltd has sought assured natural gas supply from Qatar to set up a US$1.3 bln petrochemical plant with Reliance Industries in the gas-rich nation. Last year’s preliminary discussions with Qatar Petrochemical Company (QAPCO) are being followed by detailed discussions about the project. RIL and GAIL signed a MoU to jointly set up a mega gas-based petrochemical plant in December 2007. The two partners plan to float a special purpose vehicle with equal stake to set up the overseas petrochemical plant.