GAIL and Itera sign MOU to jointly build petrochemical plants

India's Gas Authority of India Limited (GAIL) and Russian oil and gas firm Itera have signed a Memorandum of Understanding (MoU) to jointly build petrochemical plants and city gas projects in Russia. This pact envisages cooperation in setting up CNG projects in Russia, exploring possibilities for setting up a gas-based petrochemical plant in Russia and jointly investing in oil and gas exploration and production in Russia and CIS countries.