RIL May Bid for Repsol's LNG Assets

Reliance Industries may join the race to buy Repsol’s liquefied natural gas (LNG) assets. State owned GAIL has already confirmed its interest in the assets owned by the Spanish energy firm, Times of India reported.

The Spanish giant's LNG interests include a 75% stake in a regasification plant in Canada, a 20% stake in a liquefaction plant in Peru and a 23% interest in the Atlantic liquefaction plant in Trinidad and Tobago, all valued at about $3 billion.

Some of the biggest energy firms are in bidding for these assets. They include China's Sinopec, Gas Natural of Spain, Britain's BG Group, Gazprom and Novatek of Russia, and France's GDF Suez, the TOI report said.

The report pointed that RIL and GAIL  likely to seek partners in bidding for Repsol unit as they would be keen on participating interest rather than ownership deals.