GAIL in talks to buy equity in $10 bln Trans-Sahara pipeline

New Delhi, July 24 (UNI) GAIL, country's largest gas transportation and marketing company, today said it is eyeing to buy some equity in the 10 billion dollars Trans-Sahara pipeline.

''To buy equity in the huge project, our representative have met officials from Nigeria and Algeria in Brussels recently,'' GAIL Chairman U D Choubey told reporters here.

Nigeria and Algeria are gearing up to build the 4,500 km-long Trans-Sahara pipeline which would transport 20-30 billion cubic metres of Nigerian gas to Europe starting in 2015.

Meanwhile, Dr Choubey said GAIL is in talks with OVL, the overseas arm of state-run oil producer ONGC, and smaller oil producer Oil India Ltd to purchase energy assets abroad.

GAIL already partners ONGC Videsh in two blocks in Myanmar.

UNI