Sumit Kishore, executive director (business development and exploration and production), GAIL and Yogi Sarin, chief executive, Petron signed the non-binding MoU on Wednesday, said a statement from GAIL. “In line with the MoU, GAIL and Petron will jointly undertake feasibility studies to ascertain technical viability and financial prospects of the project. Both the parties endeavour to secure investment approval from their respective management for investment in the project and forming a JV company,” said the statement on Thursday.

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The MoU was signed by Sumit Kishore, Executive Director (Business Development and Exploration & Production), GAIL, and Yogi Sarin, CEO, Petron. The collaboration aims to assess the technical and financial viability of the project, with both companies committed to advancing sustainable practices, enhancing the bio-economy, and contributing to India’s clean energy infrastructure.

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