SOCAR and GAIL to cooperate in the procurement and sales of liquefied gas

Baku. 3 November. REPORT.AZ/ State Oil Company of Azerbaijan (SOCAR) and the Indian company GAIL signed a Memorandum of Understanding. Report informs referring to the message of GAIL, the two companies will cooperate in the procurement of liquefied natural gas (LNG) projects and the promotion of global LNG.

Both companies shall also cooperate in optimization of LNG marketing, sourcing and shipping requirements. In addition, GAIL and SOCAR will pursue business opportunities in upstream assets across the world and joint investment in petrochemical projects.

GAIL is the largest gas company in India. It deals with all aspects of the gas business: exploration, production, transportation, processing, generation of electricity using gas as a fuel and the sale of finished products.

The company operates 6,700 km of pipelines with a total throughput of 54 bln cubic meters per year, 7 LPG production plants with total capacity of 1.2 mln tons per year, gas and chemical complex in Pata (Uttar Pradesh) 1922 km of gas pipelines LPG .