Rediff Logo
 Money
Line
Channels: Astrology | Broadband | Chat | Contests | E-cards | Money | Movies | Romance | Search | Weather | Wedding
                 Women
Partner Channels: Auctions | Auto | Bill Pay | Jobs | Lifestyle | TechJobs | Technology | Travel
Line
Home > Money > Reuters > Report
February 21, 2001 		Feedback  
  Money Matters

 -  Business Special
 -  Business Headlines
 -  Corporate Headlines
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      

 
Reuters
 Search the Internet
         Tips
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page

Reliance, BP in Iran gas deal

The Reliance group, one of India's largest conglomerates, BP Amoco Plc and the National Iranian Oil Company (NIOC) have agreed to study the feasibility of building a 8-million-tonne liquefied natural gas (LNG) terminal in Iran, a business daily reported on Wednesday.

Reliance and BP, the world's third-largest oil company, would each own 25 per cent stakes in the project, and NIOC the other 50 per cent, the paper said citing unnamed sources.

The three partners have signed a memorandum of understanding and feasibility studies will begin soon.

A Reliance spokesman said the group will issue a statement on the report later in the day.

The tie-up comes when Reliance is close to completing a 5 million tonne LNG plant in Jamnagar in Gujarat and is expected to give the group access to large volumes of gas at competitive prices, the paper added.

Back to top
(c) Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Tell us what you think of this report