Bangalore: The Gas Authority of India (GAIL) is all set to make a foray into West Asia and South East Asia and also planned to enter the Liquid Petroleum Gas (LPG) marketing business in India, a top GAIL official said on June 17.

"We have plans to introduce Compressed Natural Gas (CNG) in the gas-rich countries of West Asia and South East Asia," GAIL's chairman and managing director, Proshanto Banerjee, said.

GAIL, he said, also proposed to take up projects in those countries on gas transportation, gas processing and related areas close to its core competence.

Asked which countries had been identified, Banerjee said the company was looking at Iran, Oman, Kazakhstan, Bangladesh, Sri Lanka and Indonesia.

Discussions in this regard were in the final stages, he said.

He said GAIL would either form joint ventures in those countries to take up business there or create business units, depending on rules in those nations and business conditions prevailing there.

Banerjee said GAIL was keen on entering the LPG marketing business. "We produce one million tones of LPG. We are in dialogue with the Petroleum Ministry (seeking the latter's nod for the move). We are waiting for a favorable response."

He expected the company to enter the LPG marketing business in the next two to three months.

PTI