I am glad to report that Financial Year 2019-20 was another remarkable year for yourCompany. Despite numerous challenges such as low oil and gas prices COVID-19 pandemiclimited economic growth and reduced petrochemical margins your Company has deliveredincredible results on several fronts with enduring spirit. Your Company has yet againclocked new heights by attaining highest ever profits in the history - a feat that is madepossible through your continued support and confidence. Our physical performance remainedpositive in most areas including construction of natural gas pipelines expansion of newgas markets in different parts of country development of new gas markets petrochemicalproduction including new petrochemical grades etc.
Last Financial Year was a challenging year for both global economy and global energysector. Global economy has shown signs of softening in the wake of rising tariffsescalating trade tensions and policy uncertainty. COVID-19 has further aggravated theposition as it resulted into a substantial economic crisis worldwide. Global primaryenergy consumption already decelerating due to the weaker economic growth was furtherweakened by the pandemic crisis. Except nuclear all other primary fuels witnessed adeclining growth in last financial year. Share of coal which has a dominant share ofglobal primary energy mix reduced to 27% which is the lowest in last 16 years. Crudeprice has witnessed significant fall due to significant demand destruction by pandemic andcorona virus further threatens to make this shift permanent. Renewables and natural gashave emerged as more feasible options for global energy system. Three-fourth of theoverall global energy growth in last year came from natural gas and renewables as both thefuels have started to displace coal gradually in the power sector as sustainable choice.As a result the growth in carbon emissions has also slowed down in 2019 from the sharpincrease seen in the previous year.
India remains one of the few optimistic energy markets. India's energy consumption grewat around 2.3% while gas consumption grew at a higher rate of 2. 7%. LNG consumption grewat an even higher rate indicating bright future prospects for the natural gas sector. Butagainst reduced growth in global carbon emission last year carbon emission growth inIndia has accelerated. Our country consumed only 5.8% of world primary energy in 2019 butcontributed to over 7.3% of global carbon emissions indicating a less-cleaner energy mix.At a time when environmental issues and pollution are at the heart of concerns the callfor action is intensifying. Rest of the world is increasingly adopting renewables andnatural gas as mainstay energy sources and your Company has been advocating for usage ofnatural gas in power and industrial sector as fuel to shift India's energy mix to cleanersources.
During FY 2019-20 your Company has shown consistent performance across all segmentsdespite the volatile macro environment clubbed with sluggish economic growth. Your Companyshifted to the new tax regime and has recorded highest ever Profit After Tax (PAT) of ?6621 crore a rise of 10% from ? 6026 crore over the last fiscal year. In view of theincrease in PAT EPS has gone up from ? 13.36 per share as on March 312019 to? 14.68 pershare as on March 312020.
Your Company owns over 70% of India's gas transmission network operating around 12426km of natural gas trunk pipeline. Natural gas transmission segment has witnessed 4.5%increase of gross revenue compared to previous year and transported 108.37 MMSCMD in FY2019-20. Your Company is aligned to the Government of India's vision of gas based economywith inclusive growth. As a part of providing access to natural gas across India yourCompany is executing around 7500 km of pipeline projects in various parts. Significantprogress has been made in pipeline laying activities of Pradhan Mantri Urja Gangapipeline also known as Jagdishpur-Haldia and Bokaro-Dhamra Pipeline JHBDPL) across 6states of Bihar Uttar Pradesh Jharkhand Odisha West Bengal and Assam.Your Company hascommissioned 165 km Gorakhpur spurline section of JHBDPL and 350 km section of KKMBPLpipeline last year. Construction of various other pipeline sections are under progress inphases and are on schedule.The construction of above natural gas pipelines re-affirms thecommitment of your Company to provide access of cleaner fossil fuel natural gas indifferent parts of the country by creating national gas grid.
In 2019-20 your Company received PNGRB approval for capacity expansion of the JHBDPLnetwork by way of a new pipeline from Dhamra to Haldia and resizing of the Dhamra- Paradipsection of JHBDPL. Your Company also received PNGRB authorization for theMumbai-Nagpur-Jharsuguda pipeline while the construction of the 690 km Srikakulam- Angulpipeline has commenced. To offer seamless and transparent pipeline access to itscustomers your Company launched a 24x7 available online portal in 2018. Around 1800Capacity Tranche (CT) requests have been processed through the portal during FY 2019-20while total CT requisitions processed till March 312020 since the launch of online portalis around 3000.With an aim towards market development your Company has tied-up more than13 MMSCMD of gas supply to customers in FY 2019-20 including customers along the newpipelines viz.JHBDPL and KKMBPL reinforcing its position as a trusted supplier.
Natural gas trading remains your Company's one of the core business with gross revenue? 59955 crore in FY 2019-20. Your Company's LNG import touched new heights as GAILimported 74 LNG cargoes to India amounting to approx. 4.8 MMT of LNG volumes to cater tothe growing needs of the country. LNG imports at 7.4% year on year growth witnessedhigher growth than overall sector growth of 2.7% indicating significant appetite of Indiato consume LNG. Konkan LNG Limited (KLL) has become a subsidiary of your Company whichshall provide greater operational flexibility in LNG business in terms of sourcingregasification and trading of LNG.
In the LPG transmission segment Jamnagar-Loni and the Vizag-Secunderabad pipelinenetworks achieved a throughput of 3.91 MMTPA during the year. In petrochemicals with amarketing portfolio ofover 1 MMTPA your Company successfully maintained its market sharein the domestic Polyethylene market and remained the second largest player therein. DuringFY 2019-20 your Company achieved highest ever polymer production of 788 KTA which is anincrease of 5% from preceding year. Your Company has five LPG plants at four locations inthe country having a production capacity of 1.4 Million MT total liquid hydrocarbonproduction was about 1.26 Million MT of which almost 90% constitutes LPG and Propane.During FY 2019-20 the gross revenue in the liquid hydrocarbon segment has increased by2%. In E&P segment revenue from sale of hydrocarbons is being generated from 4producing blocks in Myanmar and in India. In E&P your Company has generated revenueof t 968 crore during FY 2019-20 as against t 639 crore in FY 2018-19.
Your Company has presence directly and through affiliates in most of the majormetropolitan cities and state capital cities under CGD and has participated in the 9* and10th CGD bidding rounds of PNGRB. During FY 2019-20 your Company along with itsSubsidiaries and Joint Venture Companies QVC) has achieved around 9.52 lakh domestic PNGconnections and has commenced operations at 311 CNG stations the highest figure everachieved.
Your Company is a part of the pioneering Coal Gasification Project in Talcher which hashuge potential to convert the abundant coal reserves of the country to natural gas. Inpetrochemicals after creating history in 2019 by becoming the first ever producer ofMetallocene grade polymer in India your Company has successfully produced around 12800MT of Metallocene grade polymers during the year.
As part of our continued advocacy efforts your Company also partnered with UNpatronized "Interdependence" - a global campaign for raising awareness onenvironment & climate change.
I am delighted to inform you that as a part of the Sustainable Alternative TowardsAffordable Transportation (SATAT) initiative our wholly owned subsidiary GAIL Gas isactively engaged with entrepreneurs to promote Compressed Bio Gas (CBG).
Your Company has signed investment agreements with 9 StartUps during the year with acommitment of t 22 crore. As on date 24 Start-Ups are supported with a total commitmentof t 46 crore and t 35 crore has already been disbursed.
The headwinds due to pandemic did contribute to some negative factors in ourperformance. There was slowdown in business activities due to country wide lockdown. Withgraded relaxation in lockdown and other measures adopted by the Government of India toresume economic activities the operations of your Company has been normalized to a greatextent. Your Company remained pioneer in maintaining essential supply of natural gas tokey segments such as power fertilizer PNG mobility and other essential industries.Soonafter COVID-19 unlock provisions construction work on pipeline projects of GAIL resumedand work started at JHBDPL KKMBPL andVAPL sites while adhering fully to the variousGovernment's COVID guidelines. CGD activities have also commenced in a gradual manner inmost of the cities.
For FY 2019-20 there were little consequences of COVID-19 on the physical andfinancial performance of your company. However going forward the pandemic may act as acatalyst upsetting performance of your Company even with preventive measures.However yourCompany is determined to stay strong and will remain committed to perform businessobligations towards developing future gas market in the country. I am certain that yourCompany will sail through these tough times and will emerge as a stronger and moredetermined entity.
Last year we had adopted a revised strategic plan identifying priority businessinitiatives and reviewed at our purpose with new Vision and Mission statements. Thisstrategic plan will help us to address our challenges in changing industry scenario andprovide new areas for growth with geographic expansion meeting high employeeaspiration.While gas will remain our core segment we will look for growth in other areassuch as petrochemicals specialty chemicals renewables water etc.With our newly embracedMission and Vision as guiding principles and strategic initiatives as the chosen path Iam confident that GAIL will reach new heights in coming years.
Towards the end I would like to express my sincere gratitude for your continued beliefin the Company which has enabled us to tread the path of consistent business growth overthe years in spite of challenging and harsh business environment. I look forward to thesame camaraderie in the times to come as well.
Chairman & Managing Director