FRANCEآ’S TOTAL FOCUSES DOWNSTREAM, NOT UPSTREAM

Vol 3, PW 9 (26 May 99) Midstream & Downstream
     

Total of France is in the final stage of negotiations with the Gas Authority of India (GAIL) over a stake in the French companys LNG agreement with the Tata Electric Company (TEC).

This report understands Total has already held two rounds of talks with GAIL. A third round of talks was held last week.

A source close to the discussions tells a correspondent for this report that the only remaining obstacle to agreement is agreeing the equity stake that GAIL will be allowed in the venture. "GAIL will bring a lot of strengths to the venture", he said, "It has a good network and base but is short of gas and unable to meet is supply commitments" (see: