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GAIL India concludes medium term LNG supply pact with GDF SUEZ

28 Aug 2012 Evaluate

Country’s leading gas transporter and marketer GAIL India has concluded a medium term liquefied natural gas (LNG) supply agreement with world's third largest LNG importer GDF SUEZ to buy 12 cargoes of LNG or about 0.8 million tonnes of the fuel from 2013, at an undisclosed price.

This agreement with GDF SUEZ is yet another stride by GAIL to bridge the demand supply deficit of the Indian market in the medium term. Further, the company is expected to continue to make assiduous efforts to tie-up affordable LNG in its portfolio to meet the rapidly growing energy demand of the Indian market. Meanwhile, GDF SUEZ between 2010 and 2016 will deliver about 10.8 million tons to Kogas, CNOOC, Petronas, Petronet, PTT and GAIL.

On standalone basis, GAIL has posted a rise of 15.14% in its net profit at Rs 1133.78 crore first quarter ended June 30, 2012 as compared to Rs 984.67 crore for the same quarter in the previous year. Total income has increased by 25.01% to Rs 11,112.00 crore for quarter under review as compared to Rs 8889.00 crore for the quarter ended June 30, 2011.

GAIL India Share Price

166.50 -0.95 (-0.57%)
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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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