GAIL (India) Signed MoU with EDF Trading; Increased Footprint in US

GAIL (India) Ltd and EDF Trading on 7 February 2013 announced that they signed a MoU to jointly get hold of the oil and gas assets in North America.

Created On: Feb 8, 2013 11:44 ISTModified On: Feb 8, 2013 13:06 IST

GAIL (India) Ltd and EDF Trading on 7 February 2013 announced that they signed a MoU to jointly get hold of the oil and gas assets in North America. The MoU will also help in development of these assets. Both these companies will additionally be the partner in trading as well as optimization of LNG and US gas. The Memorandum of Understanding was signed between GAIL (India) Ltd and EDF Trading on 2 February 2013.

EDF Trading is leading participants of LNG market in the world and it facilitates its users with services such as supply and delivery, re-gasification as well as nomination in networks as well as terminal operations. Apart from GAIL (India) Ltd, it is also in agreements with some of the leading participants of the market as well as long-term supply contracts in West Asia and Asia.

It is important to note that GAIL (India) has its footprint in US already through the 20 percent stake in Eagle Shale gas assets in Texas by Carrizo Oil.

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