GAIL AGM: Co expects natural gas transmission volumes to expand 12%
New Delhi: GAIL expects its natural gas transmission volumes to expand 12% and polymer sales to double this financial year, its chairman has said.
“Gas transmission and gas marketing are the key drivers of GAIL’s business and during FY23, we transmitted 107 million metric standard cubic meters a day (MMSCMD) of natural gas, marketed 95 MMSCMD of natural gas and sold 399 thousand metric tonnes (TMT) of polymer,” GAIL chairman Sandeep Kumar Gupta told shareholders at their annual meet. “Current year seems more promising and it is estimated that your company will achieve over 120 MMSCMD of natural gas transmission, over 100 MMSCMD of natural gas sales and 800 TMT of polymer sales.”
GAIL also expects the new levelized tariff determined by the regulator for its integrated pipelines to help boost its transmission revenues.
“The implementation of unified tariff would also significantly boost capacity utilization of natural gas pipeline network,” Gupta said.
GAIL is planning to add 400 compressed natural gas (CNG) stations and more than 10 lakhs piped natural gas (PNG) connections this year, he said. GAIL’s joint venture companies have licenses to operate in 67 city gas areas, a little more than a fifth of the total 300 licensed city gas areas in the country.
GAIL has a capital spending plan of Rs 30,000 crore for the next 3 years, which would mainly go into pipelines, petrochemical, city gas, and equity contribution in group companies, Gupta said.
The company is exploring opportunities for ethane sourcing for its existing petrochemical plant while prospects of setting up of ethane cracker are being studied, he said.
GAIL has taken initiatives for the development of renewable energy such as floating solar power projects, and
