Eleven firms including state-run Gail (India) Ltd., and oil explorer Oil India Ltd., or OIL, have submitted bids to acquire stake in Mukesh Ambani's privately owned firm Reliance Gas Transportation Infrastructure or RGTIL.
Of the 11, five Indian and six overseas companies have submitted expression of interest (EoI) for buying stake in the gas transportation company RGTIL, a source close to the development said.
Gas utility GAIL and OIL have submitted separate EoIs for the stake buy, which is being managed by JP Morgan, Citi and SBI Caps. Other firms that submitted EoI include NYSE-listed energy major Enbridge.
The source said the companies that have submitted EoI would visit data room of RGTIL and do a complete due diligence before making any financial bid.
RGTIL was originally a subsidiary of Reliance Industries Ltd. (RIL) and was incorporated in March 2003 to transport natural gas from eastern offshore gas fields to consumption centres. Two years later, it was transferred to Mukesh Ambani, Chairman of RIL.
At a meeting held in Jamnagar early this month, the shareholders approved the stake sale in RGTIL, Industry sources said.
RGTIL operates a 1,396-km East-West gas pipeline. The 48-inch pipeline from Kakinada in Andhra Pradesh to Bharuch in Gujarat ferries natural gas from KG-D6 fields. But the 80 million standard cubic meters per day capacity line is operating at less than half of its capacity as output from KG-D6 field has dropped.
Relogistics Infrastructure Ltd (Relog), a subsidiary of RGTIL, has won government authorization to lay Kakinada-Basudebpur-Howrah pipeline, Kakinada-Chennai line, Chennai- Bangalore-Mangalore pipeline and Chennai-Tuticorin line but work on these pipelines have not commenced duet to uncertainty about availability of gas.
RIL is the operator of KG-D6 block with 60 percent stake, while UK-based BP Plc. has 30 percent interest. Canada's Niko Resources owns the remaining ten percent.
While GAIL is nation's largest pipeline utility by capacity, with a network of 8,500 km, OIL is keen on entering the gas business.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.