BG Group May Lower Price for Gujarat Gas Stake

British Gas is expected to lower its asking price for its stake in Gujarat Gas.

Business Standard has reported citing sources from consortium led by Gujarat State Petroleum Corp (GSPC) that BG has agreed to lower its asking price.

A senior member of the consortium told the newspaper that BG has proposed a new price but the new offer is still to be discussed. Without disclosing the new price, the source said that it was close to what GSPC and its consortium members had earlier offered.

Both the parties are likely to meet this month to finalize the details. Formal and final bids for BG Group’s interest in Gujarat Gas closed on March 15.