GAIL to transit 21% more natural gas in FY11

State-owned gas utility GAIL India today said it plans to transit 21 per cent more natural gas through its pipelines at 114.8 million cubic meters per day in 2010-11 fiscal.

The company in a press statement said it has set a target of transmitting 114.8 mmscmd of natural gas from domestic fields and imported LNG in 2010-11 fiscal as opposed to moving 94.8 mmscmd during current fiscal.

The increased gas volumes primarily would come from Reliance Industries' eastern offshore Krishna Godavari basin D6 field that is currently producing around 62 mmscmd and it is expected to go up to 80 mmscmd in the next few months.

GAIL pipelines carry most of KG-D6 gas to customers in Andhra Pradesh, Maharasthra and Gujarat.

It is targetting a sale of around 87 mmscmd of gas in 2010-11 while producing 420,000 tonnes of polymers and 1.28 million tonnes of liquid hydrocarbons like LPG.

The targets are part of an agreement GAIL signed with Petroleum Ministry yesterday. The performance memorandum of understanding was signed by Oil Secretary S Sundareshan and GAIL Chairman and Managing Director B C Tripathi.

"The company's performance will be assessed on key financial parameters and also dynamic and sector/ enterprise-specific parameters such as gas sourcing, E&P and CBM, city gas projects, pipeline projects implementation, safety, customer focus, quality management and parameters to assess Corporate Social Responsibility (CSR)," it said.