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According to sources in Union Petroleum and Natural Gas ministry ,Gail is lobbying with Srilankan finance ministry for a few blocks on nomination basis whereby blocks are allocated without bidding. Sources say that ONGC too is lobbying for exploration of some of the Srilankan blocks and its chairman Subir Raha had met president Chandrika Kumaratunga last year to discuss the matter. The allocation of oil and gas blocks would be under the bilateral protocol signed between India and Srilanka which envisages the involvement of Indian companies in development of oil and gas sector of the island nation. Indian Oil Corporation has already rolled out its SriLanka through IOC lanka and already has 300 petrolpumps operating. Apart from Srilanka ,Gail is also looking at possibilities in Indonesia and Australia. Sources say that Srilanka has a lot of oil and gas blocks towards the north of the country and that these reserves are a continuation of the Cauvery basin reserves being explored by India. Gail has recently commissioned a feasibility study for on-board regassification of LNG at Kerawalapitiya in Srilanka along with a couple of locations in India. It has signed a MoU with EXMAR Marine NV, of Belgieum for the technology that converts a normal LNG carrier to regassify the LNG and discharge it.
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| Posted : 11/19/2005 |
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