The two companies will also explore opportunities for jointly entering into trading of natural gas, besides setting-up underground gas storage facilities.
According to the chairman of GAIL, P Banerjee, the agreement follows the governments of India and France setting-up an ‘Indo-French working group on energy’ for bilateral energy sector co-operation.
GAIL has already planned a strategy for positioning itself as an international player and penetrate global markets by engaging itself in various activities including gas transportation, setting-up of pipeline infrastructures and process plants, and operation and maintenance of pipelines generally.