Gujarat Gas Company (GGCL) has executed a fully termed gas sales and transportation contract (GSTC) with GAIL (India) (GAIL) for the purchase of gas from the Panna-Mukta and Tapti (PMT) fields. The company has executed GSTC on April 18, 2012. The GSTC supersedes the previously executed term sheet dated March 31, 2008 pursuant to which PMT gas has been sold to GGCL to date.
The GSTC will now constitute the entire agreement between the parties in respect of the sale, purchase and transportation of PMT gas up to 2.13 mmscmd depending on the production from the PMT fields.
Pursuant to the directive from the Ministry of Petroleum and Natural Gas, GGCL was allocated up to 2.13 mmscmd of PMT gas to be sold by GAIL.
Gujarat Gas Company, which is engaged in supply of gas to industrial, auto and house-hold consumers in Gujarat, gets nearly 75% of its requirements from the PMT fields through GAIL India.
Company Name | CMP |
---|---|
GAIL India | 208.00 |
Petronet LNG | 308.75 |
Linde India | 8320.00 |
Confidence Petroleum | 90.46 |
Refex Industries | 168.20 |
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