An Indian delegation led by Petroleum Ministry M Veerappa Moily to the US would discuss and sign the proposed memorandum of understanding (MoU) between GAIL India and France’s EDF, reports suggest.
GAIL wants to rope in the French firm in order to facilitate gas trading and sourcing in the US. Going forward, GAIL wants the partnership to acquire shale gas assets collectively. This would be followed by foray into the downstream business. According to BC Tripathi, Chairman and Managing Director of GAIL, both the companies may also work towards gas trading in India or outside the US.
Recently, the state-run firm received maharatna status, which would empower its board to take major decisions. This would enable GAIL to take larger decisions and deliver much better results, he added. GAIL would need to get five new independent directors on Board to claim the Maharatna status.
He added that after Dabhol LNG terminal getting commissioned, there is a new gateway available to source more gas. The second cargo has arrived at Dabhol recently and GAIL would bring more and more spot cargoes, Tripathi said.
GAIL plans to get at least two cargoes every month till May. After this, the port would be shut for few months and imports would resume from October.