Gaz de France is exploring new business opportunities in the country.

The French gas major holds 10 per cent stake in India's first liquefied natural gas project of Petronet LNG Ltd.

Francis Cazalet, Gaz de France's project director in India, said here on Monday that the company will also remain an equity partner for Petronet's upcoming LNG terminal at Kochi, scheduled to be commissioned in the next three to four years.

"With the commissioning of Petronet's LNG terminal at Dahej, we are convinced that India has a bright future in the gas energy sector and there is enough space for more companies. We are exploring opportunities of furthering out business here. Two years back, when we had hit the Indian shores through the Petronet project, we were not very sure about the future of gas projects here. But with demand for gas rising and (supply) deficit increasing every year, we find India very interesting," Cazalet said.

He said in spite of Petronet and Shell setting up LNG terminals, the latter at Hazira in Gujarat, the Indian market is big enough to accommodate more players.

He said Gaz de France is going through internal changes and is looking to be an international major with focus on the European market.

"We have recently signed an agreement with Egypt for importing LNG for 20 years. We are also looking for more suppliers. Petronet has a 25-year agreement with RasGas for supply of 7.5 million metric tonne per annum of LNG. But since it is expanding capacity to 10 MMTPA, we may end up supplying LNG to it as we will be getting gas from Egypt following our recent agreement."