GAIL, Itera ink pact

NEW DELHI, Feb. 15 (UPI) -- State-run Gas Authority of India Ltd. has signed a pact with Russia's Itera Oil & Gas Co. for cooperation in the hydrocarbons sector, GAIL's chairman said.

GAIL Chairman U.D. Choubey said the areas of cooperation include participation in compressed natural gas projects and gas-based petrochemicals opportunities in Russia, as well as exploration and production opportunities in Russia and the Commonwealth of Independent States.

"This is a significant step to focus on GAIL's competence in gas-based petrochemical projects and CNG in Russia with a major private Russian company," he said. "Itera is a prominent player in the hydrocarbon sector in Russia and CIS countries."

The comments came at a seminar on cooperation between India and Russia in the hydrocarbon sector.