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GSPC files contempt petition against GAIL for gas shortfall

30 Dec 2013 Evaluate

Gujarat State Petroleum Corporation (GSPC) has filed a contempt of court petition against the Gas Authority of India (GAIL) for supplying nine percent less gas than promised. This petition has been filed in the High Court after GAIL allegedly dishonored the agreement with GSPC and also failed to comply with directions of the HC.  As per the agreement, GAIL had promised to supply total 0.5837 million metric standard cubic meters per day (mmscmd) gas from its Dahej delivery point, but the company is supplying 0.5318 mmscmd of gas.

Meanwhile, GAIL has been supplying lesser quantity of cheaper APM gas and higher quantity of costlier PMT gas. GAIL has been supplying 0.4389 mmscmd of APM gas at $4.2 per barrel against the promised 0.5132 mmscmd, while it is supplying 0.929 mmscmd of costlier PMT gas at $5.70 per barrel against the promised 0.0705 mmscmd.

Gail has reported a fall of 7.07% in its net profit at Rs 915.67 crore for second quarter ended September 30, 2013 as compared to Rs 985.38 crore for the same quarter in the previous year. However, total income from operation of the company has increased by 21.95% at Rs 14,224.37 crore for quarter under review as compared to Rs 11,664.37 crore for the quarter ended September 30, 2012.

GAIL India Share Price

166.50 -0.95 (-0.57%)
08-May-2026 16:59 View Price Chart
Peers
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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