SOCAR and Indian GAIL to cooperate in LNG procurement - PHOTO

SOCAR and Indian GAIL to cooperate in LNG procurement - <span style="color: red;">PHOTO
# 04 November 2014 07:32 (UTC +04:00)

Baku – APA-Economics. GAIL (India) Limited today announced the signing of a Memorandum of Understanding (MoU) with State Oil Company of Republic of Azerbaijan (SOCAR), APA-Economics reports quoting website of GAIL. Under the MoU, GAIL and SOCAR intend to jointly pursue LNG opportunities through capacity booking, LNG procurement and promotion of LNG projects globally.

Both companies shall also cooperate in optimization of LNG marketing, sourcing and shipping requirements. In addition, GAIL and SOCAR will pursue business opportunities in upstream assets across the world and joint investment in petrochemical projects.

Speaking on the occasion, Mr B C Tripathi, Chairman and Managing Director, GAIL said “We are happy to enter into this strategic relationship with SOCAR. Skills and strengths of both the parties would be leveraged to explore business opportunities jointly in natural gas and LNG business including new business developments across the gas value chain.”

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