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. Last Updated: 07/27/2016

Gazprom India Deal

NEW DELHI, India — State-run Gas Authority of India Ltd., or GAIL, said Tuesday it would sign a pact with Russian gas giant Gazprom for joint operations in the natural gas sector in India, Russia and third countries.

President Vladimir Putin signed the memorandum of understanding in New Delhi on Tuesday.

GAIL said in a statement that the agreement would cover several areas including exploration and production and the design, construction, operation and maintenance of gas pipelines.

The two companies will also cooperate in operating underground gas storage and liquid hydrocarbons, coal-bed methane and processing of natural gas.