IMRB commissioned to do market survey for Bangladesh gas

Vol 6, PW 10 (17 Jul 02) News in Brief

It's anybody's guess if gas from Bangladesh will ever flow to India.

Yet that hasn't stopped IOC, GAIL and ONGC appointing the Indian Market Research Bureau to undertake a demand survey in West Bengal, Bihar, Jharkand, Orissa and Uttar Pradesh. After the survey the Indian consortium plans to construct a "detailed pipeline network" using (where possible) the existing Right of Way of the three PSUs.

On 10th June, IOC, GAIL and ONGC signed a joint 'statement of intent' for a tripartite MoU to carry forward the Bangladesh gas import project. IOC will appoint the managing director, GAIL will appoint the chairman and technical director, while ONGC will appoint the finance director.

Posts will rotate after three years. IOC will hold 48% of the joint venture, with GAIL and ONGC sharing the balance 52%.