Page 7 - LNG Today
P. 7

cover story

                                                              Tripathi was happy to share that the prestigious gas
                                                              transmission project "Pradhan Mantri Urja Ganga" is
                                                              progressing as per schedule as concurrent work across
                                                              various sections is underway at a brisk pace along the
                                                              2,600 km long trunkline. The pipeline section from
                                                              Phulpur to Varanasi has been commissioned, paving
                                                              way for GAIL to commence natural gas supplies at the
                                                              Holy City after it was dedicated to the Nation by the
                                                              Prime Minister of India. In addition, gas supplies through
                                                              City Gas Distribution (CGD) networks of the Company
         LNG cargo supply commences from Gazprom              has commenced at Bhubaneswar and Cuttack, during
                                                              the year.

         during the year to optimize the LNG portfolio through   On the front of pipelines and CGS projects, it has been
         destination and time swap term contracts with reputed   an eventful journey in the past several months. The
         global players and also undertook commodity hedging   Company has been entrusted to execute an additional
         to offset risks arising out of commodity price volatilities.   750 km long natural gas pipeline from Barauni to
         In an effort to align downstream market expectations   Guwahati as an integrated extension to the Jagadishpur-
         in tune with current realities, long-term LNG SPA with   Haldia-Bokaro-Dhamra project. The proposed pipeline
         M/s Gazprom Marketing & Trading Services has been    upto Guwahati would interconnect with the upcoming
         mutually reworked and stands out as a notable exception   1500 km "Indradhanush" pipeline network conceived
         in the International market.                         to operate in North-East by the public sector Oil & Gas
                                                              majors; GAIL is a leading partner in this enterprise.
         In the last few years, GAIL has transformed in character
         to enlarge its range and reach of products and services   The year was action oriented in the CGD space. The
         to support economic objectives and serve society as it   Company worked in close coordination with the
         strive to enrich wealth creation for shareholders.   subsidiary and Joint Venture Companies to achieve
                                                              record PNG connections to over 5,00,000 households
         On a sound corporate strategy, the Company's growth   and establish 120 CNG stations during FY 2017-
         on an average during the past five years has provided a   18, under the segment. Even as CGDs at Ranchi,
         spectacular return on Capital employed at about 13.6%   Jamshedpur and Patna are under phased execution,
         and contributed to a Dividend pay-out ration of around   under the 9  round of bidding CGD affiliates of
         40%.                                                 the company have competitively won a total of 15
         In furtherance of strong performance and the continued   geographical areas and includes Guwahati, Rourkela,
         tradition of rewarding shareholders, the Company     Meerut, Dehradun, Mangalore etc. Recently GAIL
         recommended the highest ever dividend (including     formed a subsidiary at Kolkata for establishing city gas
         interim dividend) of Rs. 1619 crore during the fiscal   distribution project at the capital of West Bengal State.
         2017-18, in addition to issuance of 1:3 Bonus Shares in   In the months and years to come, gas retailing by the
         March, 2018, as a recognition of the unwavering faith in   Company, directly and through the CGD companies,
         GAIL.                                                would metamorphose in to a noteworthy gas retailing
         Maintaining the trend of strength and growth, the
         Company has posted robust sales growth to register 17%   Allied Investments Dove-Tailing Gas Value Chain
         increase in Q1 profits during the current financial year   The Company strategically subscribed to 14.3% equity
         over the comparative quarter of previous year.
         Expanding Pipeline Footprints
         The Company, being the premier midstream
         infrastructure player in the natural gas market of India, is
         working on multiple pipeline projects concurrently. The    PNG and cNG commence
         scale of action is unprecedented on this front as GAIL     at varanasi...
         endeavours to add 5500 km gas pipelines to the existing
         network and leapfrog to capacity augmentation by about
         50% on the current base in the next 3 years in phases.

                                                                    LNG TODAY     November 2018 - January 2019  7
   2   3   4   5   6   7   8   9   10   11   12