RIL Eyes Gas JV with US Firm

Two months after Reliance Industries bought a 40% stake in US-based Atlas Energy‘s Marcellus Shale gas operations for $339 million, the Mukesh Ambani-led company has now set its eyes on a joint venture with Pioneer Natural Resources, writes the Economic Times in India.

Alok Agarwal, cheif financial officer at Reliance Industries, says that the US is a hotbed of activity for shale gas and its industries right now, and is the key to reducing dependence on oil and energy from areas such as the Middle-East.

‘‘Shale gas represents a growing source of energy and is expected to constitute 20% of the overall gas production in the US over the next 10 years,” he tells The Economic Times.

READ THE FULL ARTICLE.

Short URL: http://naturalgasforamerica.com/?p=821

Posted by admin on June 14th, 2010. Filed under Shale Gas. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry