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GAIL India Signs Pact With GDF Suez To Build Floating LNG Terminal

04/17/2012 | 04:08am US/Eastern

GAIL (India) Ltd. (532155.BY) and the government of Andhra Pradesh state Tuesday signed an initial pact with French power company GDF Suez SA (>> GDF SUEZ) to build a floating terminal for liquefied natural gas in the country.

Andhra Pradesh Gas Distribution Corp., a company owned jointly owned by GAIL Gas Ltd.--a wholly-owned unit of GAIL--and Andhra Pradesh Gas Infrastructure Corp. signed the pact, the companies said in a joint statement.

The companies aim to commission the terminal by the end of December 2013.

-By Rakesh Sharma, Dow Jones Newswires; +91-11-4356-3305; santanu.choudhury@dowjones.com

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