IndianOil, GAIL look at stake in Africa
New Delhi   10-Dec-2011

State-owned IndianOil and GAIL Ltd are looking at picking up an equity stake in LNG projects in Africa to meet growing energy needs of the country, Oil Minister S Jaipal Reddy said on Friday. Hydrocarbon-rich Africa today supplies 35.31 million tonnes, or 21.5 per cent, of the nation's crude oil requirement, Reddy said. With natural gas demand projected to double in five years, India is looking to tie-up long-term supplies of liquefied natural gas from Africa.