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OVL may join Chinese gas pipeline from Myanmar

(Gaschina.com.cn)
Updated: 2009-07-25 15:47

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ONGC Videsh Ltd, India's overseas arm of Oil and Natural Gas Corp (ONGC), may pick up a stake in the USD 1.95 billion gas pipeline that China is building for ferrying natural gas found off the Myanmar coast.

China National Petroleum Corp (CNPC) is laying a 870-km pipeline in Myanmar to transport gas found in blocks A-1 and A-3 to mainland China.

Sources said, CNPC has offered 49.9 per cent stake to the consortium developing gas fields in blocks A-1 and A-3. South Korea's Daewoo Corp holds 60 per cent stake each in block A-1 and A-3 while OVL has 20 per cent interest. GAIL and Korea Gas Corp have 10 per cent each

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