India's GAIL says signs pact with Russia's ITERA

MUMBAI, Feb 14 (Reuters) - India's state-run gas utility GAIL (India) Ltd (GAIL.BO: Quote, Profile, Research, Stock Buzz) has signed an initial deal with Russian gas producer ITERA to jointly develop city gas supply and petrochemicals projects in Russia and the CIS countries.

The two firms would also jointly seek exploration and production opportunities in Russia and its nearby region, the Indian company said in a statement late on Wednesday.

In November, GAIL Chairman U.D. Choubey had said the company was in talks with ITERA for setting up a compressed natural gas network in Moscow. (Reporting by Hiral Vora; Editing by Ranjit Gangadharan)