GAIL Is Looking To Invest In US Shale Gas Businesses

Shale-gasIndian state-owned gas marketer GAIL? Ltd is searching to acquire shale gas companies in the US. Gail is prepared to invest approximately $400-500 million. The company has publicized a request for proposals (RFP) from bankers who are able to help it identify targets and to close a deal. The RFP was publicized last month.

GAIL is also prepared to partner with other oil and gas companies for its international shale gas aspirations.

“Acquiring a shale gas asset company in the US would give the company the opportunity and the competence to bid for shale gas assets in India, as and when they come up for auctions,” according to Edelwiess Securities analyst, Niraj Mansingka.