GAIL, Gazprom Agree to Cooperate in Oil, Gas Sectors

Indian State-run natural gas transmission utility GAIL (India) Ltd. and Russian energy company Gazprom Friday signed an agreement for strategic cooperation in developing oil and gas projects within and outside India.

"Both GAIL and Gazprom will establish a joint coordination committee which will identify the specific projects in the oil and gas sectors," GAIL said in a statement. "The plan includes pipeline projects of gas supply as well gas processing."

GAIL and Gazprom will explore the gas processing and downstream opportunities in Russia and other countries, the statement said.

Both these companies are currently working jointly in India in an offshore exploration block, Block-26, in the Bay of Bengal.

GAIL manages a gas pipeline network of more than 5,000 kilometers in India, supplying primarily industrial gas to large companies across the country.