Date:15/02/2008 URL: http://www.thehindu.com/2008/02/15/stories/2008021555211800.htm

Business - Briefly

GAIL inks MoU with Russian oil and gas co.

NEW DELHI: GAIL (India) has signed an agreement with Russian oil and gas firm, Itera, for setting up petrochemical plants and city gas projects in that country. The memorandum of understanding (MoU), signed by GAIL Chairman and Managing Director U. D. Choubey, and Itera CEO Igor Makarov, envisages cooperation in setting up CNG projects in Russia, exploring possibilities of setting up a gas-based petrochemical plant in Russia and jointly investing in oil and gas exploration and production in Russia and CIS countries. — Special Correspondent