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.
