Middle East Economic Survey

VOL. XLVII

No 40

4-October-2004

EGYPT

Indias GAIL Acquires 15% Stake In Egypts NATGAS

The Gas Authority of India (GAIL) announced on 16 August it had acquired a 15% stake in Egypts National Gas Company (NATGAS) from the Egypt Kuwait Holding Company (EK Holding) for $19mn. NATGAS is the largest private local distribution company for natural gas in Egypt, with shareholders including EK Holding, Shell Gas, Petrogas, Jaicorp and now GAIL. Commenting on the agreement, GAIL...