Essar Oil and Gas Exploration and Production (EOGEPL), an arm of Ruia-owned Essar Group, has signed a 15-year Gas Sale and Purchase Agreement (GSPA) with state-owned natural gas-utility GAIL India.
The GSPA entails a 15-year gas supply contract whereby the company will be able to monetise its entire CBM production of 2.3 mmscmd from the Raniganj East block at a globally competitive price.
GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.
| Company Name | CMP |
|---|---|
| GAIL India | 166.50 |
| Gujarat Gas | 396.55 |
| Indraprastha Gas | 166.25 |
| Mahanagar Gas | 1171.95 |
| Adani Total Gas | 633.70 |
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