NEW DELHI, July 2 (UPI) -- India announced it may join the $13 billion trans-Sahara gas pipeline to supply gas to European and African markets.
The 2,671.9-mile gas pipeline is scheduled to start supplying gas by 2015. The Indian government has asked the state-run Gas Authority of India Ltd. to explore the possibility of the country's participation in the project.
Algeria and Nigeria are the main promoters of the project with their national oil companies, Sonatrach and the Nigerian National Petroleum Corp., buying major stakes in the project.
Algerian Energy Minister Chakib Khelil has urged the Indian government to allow GAIL to participate in a conference that the promoters have organized in Brussels on July 9.
GAIL said one of its senior officials will be attending the conference. The organizers have also invited global firms and banks to discuss issues relating to financing and implementation of the project, The Economic Times reported Monday.
Algeria's invitation has come in the wake of Indian petroleum and natural gas minister's recent visit.
GAIL had earlier expressed its intention to participate in the project. "The meeting in Brussels will help in making the decision to join the project," said U.D. Choubey, chairman and managing director of India's gas major.
Two Britain-based consultants, Penspen and IPA Energy, have recently submitted their feasibility reports for the project.
The reports suggested the project is technically and economically viable and Algeria is hopeful that a few European countries will pump in money in the project.
