GAIL (INDIA) LTD. - Gail (India) Ltd reply to clarification sought by the exchange

The Exchange had sought clarification from Gail (India) Ltd with respect to news article appearing in Economic Times on July 17, 2015 titled "GAIL plans to buy US shale gas asset for $1.5 billion to meet future Indian demand"<BR><BR>Gail (India) Ltd replied stating "This is to inform that though GAIL operates in all the segments of the gas value chain (i.e. Upstream, Midstream and Downstream) and continues to scout for business opportunities, however, at present, there is no concrete discussion or proposal for buying any US Shale gas asset."