GAIL (India), the country’s premier natural gas company, is reportedly planning to acquire a shale gas asset in the United States for about $1.5 billion (approx Rs 9,500 crore). The company will acquire this asset to meet future gas demand in India and other markets along with partly offsetting the risk associated with the market-linked pricing of 6 million tonnes of liquefied natural gas it has contracted to purchase annually from the US. The ownership of a producing block will mean that any loss arising due to increased prices of contracted LNG can be offset by gains from the producing block. The company already holds 20% stake in Carrizo's Eagle Ford Shale acreage in the US.
GAIL is India’s flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.
