GAIL signs MoU with Russian co for different projects

MUMBAI: GAIL India has signed a memorandum of understanding with ITERA Oil and Gas Company of Russia for co-operation in projects ranging from participation in CNG projects in Russia, gas based petrochemicals opportunities in Russia, E&P opportunities in Russia and CIS countries and cooperation in other projects of mutual interests.

ITERA is a large player in Oil & Gas Sector in E&P, Gas transmission & distribution, petrochemicals in Russia and CIS. It has also been operational in many Asian and African E&P assets. ���This is a significant step to focus on GAIL's competence in gas based petrochemical projects and CNG in Russia with a major private Russian company,��� said UD Choubey, CMD of GAIL. At 10:50 am, GAIL shares were up 2.29 per cent at Rs 407.15 on BSE.