GAIL and Petronet want stake in Nigerian LNG projects

GAIL India and Petronet LNG Ltd are looking to pick up stake in liquefied natural gas projects in Nigeria to secure supplies for the country’s rising energy needs. Mr Murli Deora Petroleum Minister discussed the possibility of GAIL and Petronet acquiring stake in the USD 8 billion LNG project at Brass in Bayelsa state of Nigeria with Emmanuel O Egbogah special adviser to Nigerian President.

Mr Deora also discussed as an alternative, the possibility of their participating in BG Group’s Olokola LNG expansion on the south western coast of the nation. Mr S Sundareshan said that “We expressed interest in sourcing LNG (on long term contract) from Nigeria and discussed the possibility of GAIL and Petronet joining in a LNG project.” The state owned Nigeria National Petroleum Corp has a 49% stake in Brass LNG, while Total SA of France, Eni SpA of Italy and ConocoPhillips Co each hold 17%.” Nigeria, which had proven natural gas reserves of 185 trillion cubic feet, said it would consider India’s request.