India's GAIL, BPCL Ink New MoU Agreement
Gas Authority India, Limited (GAIL) and Bharat Petroleum Corporation Limited (BPCL) signed a Memorandum of Understanding for cooperation in the areas of Natural Gas- Transmission and distribution, LPG Pipeline, City Gas Projects, Exploration & Production, use and marketing of Naphtha, Infrastructure Projects and Technology & Knowledge Sharing. The MoU was signed by Shri AK Purwaha, Director (Business Development) at GAIL and Shri S. Radhakrishnan, Director (Marketing) at BPCL in the presence of Dr. UD Choubey, Chairman and Managing Director, GAIL and Shri Ashok Sinha, CMD, BPCL.
"We have been working without any formal agreement and this MoU would give strength to this arrangement," said Dr. Choubey. "IGL is an outstanding example of the successful cooperation between GAIL and BPCL. Even in E&P, we have a common outlook while for city gas, there could even be one JV holding company instead of several separate JV companies."
Both companies have agreed to cooperate in developing an LPG pipeline network from existing/new production centers.
The firms are already partners in JVs for implementation of city gas projects in Delhi and Kanpur. Further, incorporation of JVs between GAIL and BPCL for implementing city gas projects in the cities of Kerala and Karnataka are already underway. The companies are also partners in one E&P block in Oman.
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Company: Bharat Petroleum more info
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