BG identifies India and Brazil as target markets

Vol 7, PW 24 (25 Feb 04) News in Brief
     

British Gas has identified India along with Brazil as its principal target country for the development of natural gas markets.

BG chief executive Frank Chapman made the announcement on 17th February during a presentation on the companys long-term strategy till 2009. India and Brazil are BGs principal target markets due to their increasing energy intensity and substantial growth, said Chapman.

They have large populations, rapid economic development and faster growth rates at the lower base. BG sees strong incremental growth in its gas transmission and distribution business in India through subsidiaries Gujarat Gas and joint venture Mahanagar Gas.

Said Chapman: The two companies are expected to transport 2bn c/m per day of natural gas by 2009. He said exploration and production are principal value creators for BG in India but that its long-term plans also include LNG imports and exposure to the power sector.