GAIL to buy LNG plant in Nigeria

NEW DELHI, Nov. 9 (UPI) -- State-run Gas Authority of India Ltd. said it plans to buy a stake in a liquefied natural gas plant in Nigeria.

GAIL also expressed interest in setting up a gas-based petrochemical plant in the West African nation.

India's power generation major National Thermal Power Corp. already signed an agreement with the Nigerian government to set up power plants in that country in return for natural gas for its projects in India.

"We are interested in sourcing LNG from Nigeria and will be interested in taking a stake in future LNG manufacturing plants in that country," GAIL Chairman and Managing Director U.D. Choubey said. He held a meeting with visiting Nigerian Vice President Jonathan Goodluck during the India-African hydrocarbon conference.

He said GAIL was scouting for LNG for the 2,184 megawatt Dhabol power plant in Maharashtra state. Choubey said GAIL expressed interest in setting up a gas-gathering station and creating a gas-pipeline network in the African nation.

"We also expressed interest in participating in oil and gas fields and will bid for oil and gas blocks offered by Nigeria in future," he said.