Srivastava blames GSPL slowdown on Reliance
MM Srivastava has put the blame squarely on Reliance for BSE-listed Gujarat State Petronet’s disastrous transmission volumes.
Company chairman Srivastava lashed out at Reliance in an address to shareholders at GSPL’s 16th Annual General Meeting on September 25 at GSPC Bhavan in Gandhinagar. He said dwindling gas production from D6 coupled with high LNG prices have forced a 13m cm/d drop in GSPL transmission volumes from 34m cm/d to 21m cm/d over the past three years.
GSPL transmitted a record 34m cm/d in 2011-12 but in 2012-13 this fell to 27.30m cm/d and in 2013-14 it fell again to 21.08m cm/d. Yet speaking exclusively to this report Srivastava rejected any suggestion that the sharp drop in gas transmission volumes has forced GSPL to abandon its gas grid expansion plans.
“Show me where we’re slowing down?” he asked, defensively. “We’re working in line with PNGRB authorisation.
” In his speech Srivastava said GSPL’s operational grid stands at 2180-km while another 405-km of pipeline laying work is at different stages. GSPL’s 2013-14 annual report says only small pipelines’ were commissioned in the previous year connecting customers like Banas Dairy in Banaskantha district, the Dahej Special Economic Zone and Torrent Power’s Dahej Generation power station.