Gas Authority of India Limited (Gail) has signed heads of agreement (HoA) with Daewoo for purchase of gas from the highly-prospective block awarded to the Korean company offshore Myanmar and is considering the prospects of acquiring around 10 per cent equity in the exploration acreage sometime later.
“First, we would like to enter into an agreement with Daewoo to buy gas for India. However, later we may like to participate in the their equity as well,” Gail’s CMD Proshanto Banerjee said today.
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