NEW DELHI, Dec. 29 (UPI) -- India's state-owned Oil and Natural Gas Corp. and Gas Authority of India Ltd. could take a 12.5-percent stake in a Chinese gas pipeline in the Bay of Bengal.
Government officials are said to be considering a $251 million investment for GAIL and ONGC Videsh, the overseas division of ONGC, for the 540-mile gas pipeline planned by the China Petroleum Corp.
CNCP is considering the pipeline in Myanmar to supply natural gas from offshore blocks in the Bay of Bengal, The Economic Times of India reported.
Daewoo recently doled out a $1.4 billion contract to develop pipelines and onshore infrastructure at the Myanmar fields.
CNPC is offering a 49.9 percent stake in the pipeline to developers of two gas fields in the region, the Times said.
