GAIL to take up pipeline projects in Bangladesh

March 21, 2005, New Delhi GAIL (India) Limited has signed a Memorandum of Understanding with BDCL (Business Development Corporation Limited), Bangladesh for joint cooperation in the gas transmission, pipelines and distribution networks in Bangladesh. The MoU was signed by Mr. B S Negi, Director (Planning), GAIL and Mr. A K M Ruhul Amin, Group Vice President, BDCL, in the presence of Mr. Proshanto Banerjee, Chairman and Managing Director, GAIL.

As per the MoU, GAIL will undertake Gas Pipeline Projects on Build Own Operate and Transfer (BOOT) basis or any other basis as offered by Government of Bangladesh / authorized agencies in Bangladesh. BDCL will offer services for implementation of projects and provide support and coordination in obtaining all statutory clearances and approvals required for such projects.

GAIL and BDCL will jointly identify Exploration and Production opportunities in Bangladesh. BDCL will develop business opportunities involving GAIL’s expertise in gas transmission, distribution and marketing for other private and public sector companies in Bangladesh. BDCL and GAIL will offer consultancy services to Petrobangla and its subsidiaries and also to other companies for design, development and operation of natural gas pipeline networks including upgrading existing networks.

About Business Development Corporation Limited

BDCL (Business Development Corporation Limited) is a reputed company in Bangladesh engaged in project management and consultancy services, oil and gas exploration and development, import and marketing of petroleum products, LPG storage, bottling and marketing and other related activities with keen interest in the development of natural gas infrastructure projects in Bangladesh.

About GAIL (India) Limited

GAIL, primarily a natural gas company, is focused on all aspects of the gas value chain including exploration, production, transmission, extraction, processing, distribution and marketing of natural gas and its related process, products and services. Today GAIL has additional interests in gas processing, petrochemicals, LPG transmission and telecommunications. The company has also extended its presence in power, LNG re-gasification, city gas distribution and E & P through Equity/JV participations.