India’s Reliance Industries Sells Gas Pipeline to Brookfield

Toronto-based asset manager Brookfield will buy Reliance Industries’ (RIL) East West Pipeline for Rs 13,000 crore (approximately C$2.5 billion). This is Brookfield's first purchase in the energy sector in India. The 1,400 km pipeline stretches from Andhra Pradesh to Gujarat and transports natural gas from the Krishna Godavari basin. The pipeline posted a loss of Rs 715 crore (approximately C$138 million) in 2018 due to operating below capacity. It has the capacity to transport 80 million cubic metres a day, but currently operates at less than 5 per cent of its capacity due to reduced output from the natural gas basin.

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