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Mumbai: Sate-run Gas Authority of India Ltd (GAIL) is in talks with Qatar Petrochemical Co and Russia''''s LUKOIL in a bid to build a large petrochemical plant overseas. "We are looking at setting up a mega petrochemical project overseas of 1.3-1.9 million tonnes a year," U D Choubey, chairman and managing director of GAIL, said. Choubey, who had been to both Russia and Qatar last month, had held discussions with industry officials there. "It is in line with our strategy to set up a petrochemical project overseas where feedstock is available," he said. The plant could be located in either Saudi Arabia, Qatar or Russia depending on feedstock availability, Choubey said, adding that the proposed project may involve a private Indian firm. He, however, declined to name the private partner. GAIL has a broad agreement with Reliance Industries Ltd for co-operation in the hydrocarbon sector, including setting up a petrochemical plant. GAIL, which is actively looking for LNG imports to meet the gas needs of the Ratnagiri power plant, also sought LNG (liquefied natural gas) from LUKOIL. GAIL has also expressed an interest in buying equity in LUKOIL''''s Saudi assets. LUKOIL has an 80 per cent stake in the gas-rich inland Block A in Saudi Arabia while the remaining 20 per cent is with Saudi Aramco. Choubey said his firm was also talking to Russian gas producer Itera for jointly setting up a compressed natural gas network in Moscow. GAIL is also looking at picking up stakes in pipelines in Libya, Algeria and Nigeria. This is besides the three transnational projects from Iran, Turkmenistan and Myanmar to India. The Libyan government has recently called for expressions of interest (EoI) for a gas pipeline project and the company has shown interest. It is also keen to be part of the $13 billion gas pipeline from Nigeria, Algeria to European markets. Algerian company, Sonatrach and Nigerian national oil firm, Nigeria National Petroleum Corporation are also likely be part of the trans-Sahara pipeline project. Nigeria and Algeria are looking for international partners to fund this project. GAIL, which has established a presence in the compressed natural gas (CNG) and city gas distribution projects in Egypt through equity participation in Fayum Gas, Shell CNG and Natgas, Egypt, is now looking at similar opportunities in Libya, Nigeria and other African countries.
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