Gas Authority of India, a state-run gas utility, is planning to set up a Liquefied Natural Gas (LNG) trading desk in Singapore to take advantage of the city-state's favourable tax regime and cater to demand for the fuel in Asia. The company believes that the eastern part of Asia will emerge as a big LNG market and Singapore offers a favourable tax structure because of India's tax treaty with Singapore.
GAIL (India) will finalise its LNG trading desk plan within two to three months. The company has got a subsidiary in Singapore. But the company is examining all prospectus of whether to trade LNG through subsidiary company or float a new company over there. Also, to meet the rising domestic demand the company has tied up two spot cargoes for August and aims to import two more in September.
Gail is India’s flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services. The company’s net profit for the quarter has increased by 11.03% at Rs 984.67 crore as compared to Rs 886.88 crore for the same quarter last year. Its total income increased by 24.99% to Rs 8953.65 crore for the quarter under review from Rs 7163.50 crore for the corresponding quarter of the previous year.
| Company Name | CMP |
|---|---|
| GAIL (India) | 170.90 |
| Gujarat Energy | 287.00 |
| Indraprastha Gas | 151.55 |
| Mahanagar Gas | 1115.95 |
| Adani Total Gas | 706.15 |
| View more.. | |
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