Historic Indian Gas Purchase Deal

GAIL (India), the state-controlled Indian gas utility, has signed an important gas purchase agreement with a consortium comprising India's Reliance Industries, UK-based BG Group and Indian state-controlled Oil and Natural Gas Corporation (ONGC). The new deal involves GAIL buying the entire gas output of the Panna-Mukta-Tapti (PMT) project, which amounts to 17.3mn cubic metres per day, or an annualised 6.3bn cubic metres (bcm).

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