You are here: Home » Companies » News
Business Standard

Adani Gas acquires CGD network in Ludhiana, Jalandhar, Kutch (East)

All three areas have high volume potential in terms of demand over a period of ten years

Topics
Adani  | Adani Gas | oil and gas field

Shine Jacob  |  New Delhi 

adani gas
Given the availability of pipeline connectivity in the surroundings, all the three GAs shall offer early monetisation opportunity to AGL.

Gas has signed a definitive agreement for the acquisition of three Geographical Areas (GA) — Ludhiana, Jalandhar and Kutch (East) — from a consortium led by Jay Madhok Energy.

All three GAs have high volumes potential in terms of demand of over 6.5 MMSCMD (million metric standard cubic meter per day) over a period of 10 years. These GA’s are under Phase 1 of Bharatmala Pariyojana by NHAI, which will boost the development and volume growth.

Ludhiana and Jalandhar are twin cities of Punjab and are major industrial and commercial hubs with very high-volume potential of CNG and PNG homes. Both cities are in the vicinity of the pipeline connectivity. Kutch (East) in Gujarat is poised to take centre stage for the development in Gujarat.

AGL has strong presence in Gujarat. Kutch (East) is well connected with pipeline and R-LNG terminal infrastructures making Kutch (East) an attractive destination for the development of CGD network, the company said.

Given the availability of pipeline connectivity in the surroundings, all the three GAs shall offer early monetisation opportunity to AGL.

With the addition of these three GAs, AGL shall now have a presence in 22 GAs as standalone entity.

The transaction is subject to necessary regulatory and other customary approvals. Speaking on the occasion, Suresh P Manglani, CEO, Gas said, “These three GAs offer high PNG and CNG volumes together with excellent infrastructure growth opportunities. Gas tally of GAs shall now increase to 22 GAs. This transformational acquisition shall allow AGL to supply cleaner fuels — PNG in fulfilling much-awaited aspirations of a large number of homes, Commercial and Industrial consumers, Gurudwara, hotels, restaurants and environmental friendly CNG to automotive consumers in Ludhiana, Jalandhar and Kutch (East) GAs. This initiative by AGL shall further support the vision of central and state governments to provide PNG and CNG to all.”

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 04 2020. 12:06 IST
RECOMMENDED FOR YOU
.