GAIL 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 will pick up equity in the 10 billion-dollar Trans-Sahara pipeline that will transport gas from Nigeria to Europe ''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.

He did not divulge details on the quantum of equity the company is targeting in the Trans-Sahara pipeline.

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 ONGC's overseas arm OVL and smaller oil producer Oil India Ltd to buy assets in gas bearing areas of Libya, Algeria and South Africa.

GAIL already partners ONGC Videsh in two blocks in Myanmar.

UNI