| "GSPC is expecting production from KG basin at the beginning of 2008. Initially, GSP will distribute gas in Andhra Pradesh, later it will target other southern states," Balwant Singh, chairman said. |
| Singh added GSPC was planning an initial investment of Rs 1,500 crore in the first two years at the KG Basin pipeline. Singh also did not rule out the possibility of a swap with GAIL in the initial years of the pipeline, saying, "They need to strengthen their distribution in the west and, we in the east coast. So initially, we may do swap." |
| Singh also said the company was looking for technical assistance on the pipeline from ONGC, IOC and GAIL and was not averse to a foreign collaboration either. |
| GSPC is also planning to getting into the gas distribution business in Maharashtra and is in negotiations with the state government. |
| Gujarat State Petronet Ltd, (GSPL), a subsidiary of GSPC, has already laid 30-inch pipe for between Morbi and Vapi for distribution to take care of possible demand from Maharashtra. Rajastan and Madhya Pradesh are also in the list of GSPL, but GSPL has not begun any formal discussion. |
| "GSPC has laid down 433 km pipeline for gas distribution in Gujarat and planning to add 742 km more to it in one year, thus we are going in for an IPO. GSPL is planning to spend Rs 1450 crore for the expansion of gas network," said Pandian. |
| "GSPC is bidding for oil and gas blocks in Australia. Both the blocks are located in gas and oil rich North West Shelf region of western Australia. The bid is along with Oilex of Australia, GAIL and Prize Petroleum-HPCL joint venture. The result is expecting soon," Balwant Singh added. |
| GSPC is also looking at the possibilities in Oman, Qatar and Syria. The company is planning to form an overseas investment arm and once the own subsidiary for hydrocarbon exploration and production began, GSPC may even prefer to bid on its own in certain new round of international bidding. |
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