More CNG stations promise by MGL
Mahanagar Gas (MGL) plans to set up another 50 fuel stations selling CNG and its subsidiary Unison Enviro another 25 this fiscal.
MGL managing director Ashu Shingal revealed this on July 26 (2024) during the company’s quarterly financial results call. With 348 already, MGL will add 50 more across Mumbai, Thane, Mira-Bhayander, and Navi Mumbai by March 31 (2025).
In February 2024, MGL took 100% in Unison Enviro, which operates 57 CNG stations but will add 25 across its Ratnagiri, Latur and Osmanabad in Maharashtra and Chitradurga and Devengere in Karnataka CGD areas. Shingal added that MGL sells 3.9m cm/d of gas to all customers while Unison sells 17,000 cm/d - expected to rise within seven years to 1.3m cm/d.
MGL expects annual gas sales growth to be 7%, of which 70% comes from CNG. "CNG volumes are the main driver for growth," he stressed.
"We have smoothened the process of issuing LoIs and (project) execution," he said. Traditionally, MGL had just two CNG station models: outlets in petrol stations run by IndianOil, Bharat Petroleum or Hindustan Petroleum, and MGL-owned and operated stations.
"A few years ago, we widened that ambit, and we now have four or five different types of offerings for partners willing to open CNG stations," said Shingal. He continued that during the three months to June 30 (2024), MGL saw 20,800 vehicles line up as new CNG customers against 20,100 vehicles in the previous three months.
By June 30 (2024), MGL supplied gas to 2.53m households and 4845 factories and businesses in and around Mumbai. In Raigad, MGL supplies piped gas to 80,854 homes and CNG from 47 stations.
By June 30 (2024), Unison Enviro counted 27,339 households and 57 industrial and commercial piped gas customers.