"We are interested in bidding for Australian blocks that are currently on offer. We may invest about $300-500 million over 3-5 years for exploration, production and LNG terminals in Australia," Prashanto Banerjee, chairman and managing director of Gail, said today.
The company is also hopeful of tying up 5-7 million tonne per annum of LNG supplies with Australian firms by next year - a part of which could be used for restarting the Dabhol power plant in Maharashtra, he added.
