GAIL's report card for April to August 2001

Vol 5, PW 18 (24 Oct 01) Midstream & Downstream
     

Selling gas is easy in an energy-starved market such as India.

GAIL can tell you that. The company's report card for the four months to August shows it has roundly beaten the financial targets set for it in the MOU with the oil ministry.

See below. Item MOU target April-Aug 2001 Actual performance April-Aug 2001 Gross margin Rs1,030cr Rs1,074cr Pre-tax profit Rs643cr Rs737cr Post-tax profit Rs467cr Rs542cr Internal generation Rs751cr Rs781cr Other August highlights are: LPG dispatch from Jamnagar-Loni LPG pipeline system upto Hindustan Petroleum, Loni, began on "continuous basis" from 23rd August Visakhapatnam-Secunderabad LPG pipeline project ahead of schedule Maintained uninterrupted supply of gas to all "firm" consumers.

Supplied a total of 62.50m cm/d of natural gas Tatipaka-Kondapalli pipeline for supply of natural gas to Lanco Power Plant commissioned on 20th August, four months ahead of contractual gas supply date Telecom project achieved an overall progress of 65% against the targeted 80% First meeting of joint technical sub-committee on the Indo-Iran pipeline project (for transfer of Iranian gas to India) held in Teheran on 12th and 13th August Draft report on gas demand study in Karnataka (based on Gas Co-operation Agreement with state government) prepared First meeting held with West Bengal government to follow up on Gas Co-operation Agreement with state government Draft report on gas for 10th five year plan (2002-2007) submitted to oil and gas ministry آ· Signed gas supply contract with Vemagiri Power Generation on 31st August for supply of 1.64m cm/d of KG basin gas