Reliance, BP set up JV 'India Gas Solutions'

The 50:50 joint venture christened, ‘India Gas Solutions’, will also develop infrastructure to accelerate transportation and marketing of natural gas within the country, the companies said.

Accordingly, the new company’s board comprises six members with equal representation from BP and RIL. Kris Sliger from BP will be appointed Chairman and RIL’s Bibhas Ganguly will be appointed Vice-Chairman.

BP India’s Region President & Country Head Sashi Mukundan said, “Our vision is to see the RIL-BP joint venture company emerge as a major participant in meeting India’s growing gas demand. The need for assured gas supplies to fuel this growth is crucial and the RIL-BP partnership is in a unique position to contribute significantly in this respect.”

The JV will commence operations with 30 employees seconded from BP and RIL, with deep
experience in the gas business, both in India and interationally. This JV will assume the administration of the existing gas contracts to KGD6 customers, and will pursue other opportunities.

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