Reliance, BP announce setting up of India joint venture

Energy major Reliance Industries and London-based BP Plc today announced the formation of an equal joint venture in India that will focus on global sourcing and marketing of natural gas in Asia's third-largest economy.

Energy major Reliance Industries and London-based BP Plc on Friday announced the formation of an equal joint venture in India that will focus on global sourcing and marketing of natural gas in Asia's third-largest economy.

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The joint venture, India Gas Solutions, will also develop infrastructure to accelerate transportation and marketing of natural gas within the country, the companies said in a press statement.