GAIL eyes project stakes, long-term deals

Government-owned gas utility GAIL India Ltd is evaluating several proposals for equity stakes and long-term supply deals in the United States, West Asia and South-east Asia, its chairman said.

The company's strategy is part of the country's efforts to secure overseas energy supplies to satisfy rising domestic demand.

"There are many proposals we are discussing," GAIL Chairman BC Tripathi told Reuters in an interview, adding these included projects in the United States, West Asia and South-east Asia, but declining to give details.

"It is difficult to give a timeframe because we have to settle on a price. In the Indian market there is a big appetite for gas, but it is all price sensitive. Price definitely is a major issue," he said.