NEW DEL: State owned GAIL (India) Ltd plans to acquire around 26% stake in India’s first natural gas exchange that went online last week, said two people aware of the development. According to an expression of interest (EoI) seeking its equity participation in a gas exchange, the state-owned firm wants to come in as a promoter with 26% equity stake.
The public sector unit owns liquefied natural gas (LNG) terminals and is already a member of the natural gas trading platform, set up by Indian Energy Exchange.
“GAIL invites online offers from Party who shall submit Expression of Interest (EOI) offering equity participation to GAIL in their Gas Exchange company established/ proposed to be established in India, for setting up gas exchange for natural gas trading and access on pan-India basis,” the EoI said.
