GAIL in talks to acquire stake in Tanzania gas block

GAIL (India) Ltd., the countrys biggest natural gas distributor, said it is in talks to acquire Ophir Energy's 10% stake in gas blocks in Tanzania.

Irrespective of Singapore's Pavilion Energy reportedly buying half of Ophir's stake, company is in talks with Ophir, GAIL Director (Marketing) Prabhat Singh said on the sidelines of 8th Asia Gas Partnership Summit.

GAIL was keen to buy part of Ophir Energy Plc's remaining 20% stake in blocks 1, 3 and 4, which hold an estimated 15 trillion cubic feet (tcf) of gas reserves.