GAIL (India), the state-owned gas utility is planning to acquire Ophir Energy's 10% stake in gas blocks in Tanzania. The company is ready to buy part of Ophir Energy Plc's remaining 20% stake in blocks 1, 3 and 4, which hold an estimated 15 trillion cubic feet of gas reserve. The company had put a price of about $600 million for a 10% stake.
The company is trying to increase natural gas (LNG) supplies to meet rising energy needs of the country. The company has tied LNG supplies from the US to Russia and Ophir would have given it the first foothold in Africa.
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.
Company Name | CMP |
---|---|
GAIL India | 208.00 |
Petronet LNG | 308.75 |
Linde India | 8320.00 |
Confidence Petroleum | 90.46 |
Refex Industries | 168.20 |
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