Gujarat body, GAIL sign gas sale agreement

Monday, 09 February 2004, 20:30 IST
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AHMEDABAD: A state-run body in Gujarat and energy major GAIL (India) Ltd. have signed a formal gas sale agreement for the supply of re-gasified liquid natural gas to the state. Gujarat State Petroleum Corporation Limited (GSPCL) chairman C.K. Koshy and GAIL chairman Proshanto Banerjee signed the agreement. The pact follows understanding between GSPCL and GAIL whereby the two will cooperate in the areas of energy and petroleum, gas transportation and marketing of natural gas. Speaking at the signing ceremony Saturday night, Banerjee said: "The agreement between GAIL and GSPCL marks the beginning of new era in the gas industry in Gujarat. "We look forward to multidimensional growth in our relationship, not just in Gujarat but in other parts of the country as well." Under the agreement, Gujarat State Petronet Ltd (GSPL), a subsidiary of GSPCL, will be responsible for transporting gas within the state. "This event takes Gujarat a step closer to fulfilling the dream of becoming the petro-hub of India," said Koshy. GSPCL currently sells about four million cubic metres of gas a day and expects to increase the volume of gas to be sold by hundred percent.
Source: IANS
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