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GAIL, China Gas Form Joint Venture For Business
GAIL India and China Gas Holdings have entered into an agreement for pursuing opportunities in gas sector. A 50:50 joint venture will be set up for projects in areas of compressed natural gas/city gas, coal bed methane, pipelines and liquefied natural gas in China, India and other countries.
The venture has identified CNG and CBM projects for implementation. Subsequently, more projects will be identified and implemented.
The JV will draw on GAILs expertise in the midstream and downstream gas sector and China Gas’ track record in securing contracts. In May 2005, GAIL India had made a strategic investment in China Gas by acquiring 210 million shares and it currently holds around 7% equity interest in China Gas.
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I couldn’t understand some parts of this article China Gas Form Joint Venture For Business at BizzNtech, but I guess I just need to check some more resources regarding this, because it sounds interesting.