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Tue, 5 January 2010
India’s ONGC and GAIL are planning to take a 12.5 per cent stake in the 771 km China – Myanmar pipeline to be built by China’s CNPC, local news sources have reported.
The pipeline will transport gas from blocks A-1 and A-3 in the Bay of Bengal to mainland China and will have a capacity of 12 MMt/a.
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A consortium of companies – Daewoo Corp, ONGC , GAIL, Korea Gas Corp and Myanmar Oil and Gas Enterprise – are investing $US3.6 billion to develop the gas fields in blocks A-1 and A-3, and CNPC has also reportedly offered a 49.9 per cent stake in the pipeline to the consortium.
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