Confirming the move, Gail's managing director, Proshanto Banerjee, said: "The two companies have decided to jointly explore the possibilities of development of CNG and residential sector infrastructure for retail gas marketing in India, Turkey, and the third countries. We have also decided to jointly work on the CNG infrastructure requirement for the transport sector in India and Turkey". A team of officials from Gail and Botas will jointly evaluate prospective projects in the gas sector, Me Banerjee added. Gail is also evaluating opportunities in gas retailing in Egypt. Shell Gas BV of Netherlands has offered equity to Gail in two its projects the Fayum Gas Co and Shell CNG Co, located in Egypt. A 19% equity has been offered by Shell in Fayum Gas, and 10% stake has been offered in Shell CNG company. Ernst and Young, Gail's financial advisor, will carry out a due-diligence study of these two projects in Egypt, and a team of Gail officials will shortly leave for Egypt.