By Manash Goswami, Bloomberg
Reliance Industries Ltd., India’s most valuable company, may set up a venture with GAIL (India) Ltd., the nation’s biggest distributor of natural gas, to sell the gas Reliance will start producing from its fields off the nation’s east coast.
The joint venture will build “trunk” pipelines to distribute natural gas into cities, GAIL India Chairman U.D. Choubey told reporters in New Delhi today, after the partners signed an agreement to distribute gas through pipes to households and vehicles in Indian cities.
GAIL is awaiting data on gas volumes from Reliance’s east coast gas discovery, he said.
Reliance and GAIL may also jointly explore for oil and gas, Choubey said.