Gail

Vedanta Aluminium inks pact with Gail for natural gas supply at Odisha unit

Vedanta Aluminium on Wednesday said it has entered into a pact with state-owned gas utility GAIL (India) Ltd for supply of natural gas to its smelter at Jharsuguda in Odisha. The country's leading aluminium producer has entered into gas sales agreement with GAIL Gas Ltd, a subsidiary of GAIL (India) Ltd. This transition to natural gas, likely to be operational by the end of next year, will lower the carbon footprint, reduce emissions by an estimated 47,292 tonnes of CO2 equivalent annually, Vedanta Aluminium said in a statement. Vedanta is committed to achieving net zero emissions by 2050, by implementing a dual strategy that includes increasing renewable energy usage while also creating carbon sinks through afforestation efforts, it said. "Our partnership with GAIL Gas Ltd is a testament to our commitment to reducing carbon emissions and embracing cleaner energy solutions," Priya Agarwal Hebbar, Non-executive Director at Vedanta and Chairperson of Hindustan Zinc Ltd, said. GAIL G

Gail signs 10-yr deal to buy up to 0.52 mn tonnes LNG per yr with ADNOC Gas

State-owned gas utility GAIL (India) Ltd on Thursday said it has signed a 10-year deal to buy up to 0.52 million tonnes per annum of liquefied natural gas (LNG) from Abu Dhabi's ADNOC Gas starting 2026. This is the first sales and purchase agreement (SPA) that ADNOC Gas has signed with an Indian buyer. "The LNG will be delivered in six cargoes per year from ADNOC Gas' Das Island natural gas facility, which has an LNG processing capacity of 6.0 million tonnes per annum. It is the third longest established LNG plant still in production globally," GAIL said in a statement. Sanjay Kumar, Director (Marketing), GAIL said: "India is witnessing a growing demand for LNG to meet its increasing natural gas demand in a diversified sectoral pattern. GAIL plans to significantly increase its term LNG portfolio in the coming years to meet this rising demand. This SPA with ADNOC Gas is a crucial step in this direction, enabling GAIL to augment its existing LNG portfolio to better serve its diverse .

Gail India share price advances 7%; here's what is boosting rally in stock

Gail reported a 2.81 per cent rise in consolidated revenue from operations to Rs 33,981.3 crore in Q2FY25 as compared to Rs 33,049.7 crore in Q2 FY24

EoI floated for Rs 13,000 cr coal gasification project by CIL-Gail JV

An Expression of Interest (EoI) for shortlisting licensors of coal gasification technology for a proposed coal-based synthetic natural gas (SNG) plant in West Bengal was floated by the GAIL and Coal India Limited (CIL) joint venture responsible for promoting the project, an official said on Monday. The project, valued at an estimated amount of Rs 13,052 crore, considering a debt-equity ratio of 70:30, was approved by the Cabinet, and coal for the plant will be supplied by CIL's subsidiary, Eastern Coalfields Ltd. Coal India will hold a 51 per cent stake in the JV, while GAIL will have a 49 per cent share. "The EoI, floated by Projects & Development India Limited (PDIL) on behalf of the JV, seeks responses from internationally reputed technology licensors with the requisite coal gasification technology, willing to provide it for the commercial production of SNG," the official told PTI. The document mentions, "The proposed JV of GAIL & CIL intends to set up an 80,000 NM3/hr ...

With 1 more ship, LNG under new pacts to be imported from 2026: Gail

State-owned gas utility GAIL (India) Ltd will start importing LNG under two new contracts from 2026 and has added one more ship to transport the fuel, its Chairman Sandeep Kumar Gupta said on Wednesday. The company had in January this year signed back-to-back deals to import liquefied natural gas (LNG). It first signed deal to import 1 million tonnes of LNG from Dutch energy trader Vitol for 10 years and then another agreement to buy 0.5 million tonne per annum of LNG from UAE's ADNOC-Gas. "As a leading natural gas player, your company recognises the importance of ensuring supply security. In this direction, we have signed two 10-year LNG supply agreements, starting in 2026: 1 million tonnes from Vitol Asia Pte Ltd, Singapore and 0.5 million tonnes from ADNOC Gas, UAE," he said at the company's annual general meeting. LNG is natural gas, extracted from below the surface, that has been cooled down to liquid form for ease and safety of non-pressurised storage or transport. GAIL will

Gail, Petron sign pact to explore setting up bio-ethylene plant in India

State-owned gas utility GAIL (India) Ltd on Thursday said it has signed an agreement with US biofuel producer Petron Scientech Inc to jointly explore setting up of a 500 kilo tonnes per annum bio-ethylene plant in India. The memorandum of understanding provides for the two firms looking at setting up the plant based on bioethanol in a 50:50 joint venture, GAIL said in a statement. While GAIL is India's largest natural gas transportation and marketing company, Petron specializes in setting up biomass and grain processing biorefinery projects to produce ethanol, bio-ethylene, bio-chemicals (ethylene oxide / mono ethylene glycol, Methanol) and various bio-fuel projects worldwide. "In line with the MoU, GAIL and Petron will jointly undertake feasibility studies to ascertain technical viability and financial prospects of the project. Both the parties endeavour to secure investment approval from their respective management for investment in the project and forming a JV company," the ...

GAIL head Sandeep Gupta in the race for Indian Oil Corp's new chairman

Nearly a dozen candidates on Sunday appeared for interview before a search-cum-selection panel that is looking to appoint the new chairman of Indian Oil Corporation (IOC), the nation's largest oil firm, sources said. While 10 out of the nearly 60 candidates who applied were called for interviews, GAIL chairman and managing director Sandeep Gupta is being considered a wildcard. Gupta had not applied but was called for the interview, three sources aware of the matter said. "They had invited 10 of the candidates who had applied. Gupta was the 11th person to be interviewed," one of them said. Gupta, 58, was director (finance) in IOC before he was appointed the CMD of gas utility GAIL in October 2022. Those interviewed on Sunday included two directors on IOC board - Satish Kumar Vaduguri (Director-Marketing) and Arvind Kumar (Director-Refineries). Five executive directors of the company too were interviewed. Bharat Petroleum Corporation Ltd (BPCL) director (marketing) Sukhmal Kumar J

CIL, GAIL sign agreement to set up coal-to-synthetic natural gas project

State-owned CIL on Monday said it has entered into a joint venture agreement with GAIL (India) Ltd to set up a coal-to-synthetic natural gas project in West Bengal. While Coal India Ltd (CIL) will have 51 per cent shareholding in the joint venture, GAIL, the nation's largest gas transportation and distribution firm, will have 49 per cent. The joint venture will be incorporated as a private limited company. The initial paid-up share capital is Rs 1 lakh, CIL said in a BSE filing. The registered office of the joint venture will be in West Bengal and CIL and GAIL each will have the right to nominate three executives as directors of the JV. Earlier this year, the Cabinet Committee on Economic Affairs had approved setting up a coal-to-synthetic natural gas project through a joint venture between CIL and GAIL, and a coal-to-ammonium nitrate project through a venture between CIL and BHEL. CIL will set up two coal gasification plants as part of efforts to achieve the target of 100 MT coal

Gail Q1FY25 results: PAT jumps 77.5% to Rs 3,183.35 cr on high gas margin

Higher domestic natural gas marketing volumes pull up revenue to Rs 34,822 crore

Jatin Gedia of Sharekhan recommends buying these two stocks today

GAIL has broken out of a resistance zone of Rs 233 - Rs 235. The breakout has been accompanied with above average volume.

Former Chairman and MD of GAIL, CR Prasad passes away at age of 83

CR Prasad, former chairman and managing director of state-owned gas utility GAIL (India) Ltd, has died. He was 83. Prasad died on Saturday, GAIL said in a post on LinkedIn. It, however, did not give reasons for the death. "Dr CR Prasad joined GAIL as Director (Planning) in 1994 and rose to the position of CMD in 1996," it said. He was chairman and managing director (CMD) of the company till his superannuation in 2001. "He was instrumental in transforming GAIL into a company strategically positioned for forward and backward integration, thereby unlocking the full potential of the gas value chain. "His visionary leadership established a robust foundation, characterised by the core values and competencies that define the company today. A meticulous project manager, he consistently delivered projects on time and within budget, solidifying his reputation as a pioneer in LPG, liquid hydrocarbons, and petrochemicals," it said. Industry leaders condoled his death. Suresh P Manglani, CEO

Analysts divided on GAIL's prospects; limited fresh gains in the offing

Analysts believe that there could be tariff hikes of 10-12 per cent starting in H2FY25 and continuing through FY26 and this could boost FY26 net profit as well

GAIL's Urja Ganga gas pipeline project completion delayed until March 2025

The construction of the Rs 12,940-crore 'Urja Ganga' gas pipeline, India's most ambitious project taking environment-friendly fuel to eastern parts of the country, has been delayed by nine months and will now be completed by March 2025, state-owned GAIL (India) Ltd said. The 3,306-kilometre Jagdishpur-Haldia-Bokaro-Dhamra pipeline was originally targeted for completion by June 2024. But due to "delay in right of use (RoU) availability", the completion schedule has been revised "from June 2024 to March 2025", GAIL said in a stock exchange filing. The bulk of the pipeline has already been constructed, and gas has started to flow in most cities along the route. Traditionally, natural gas was available for use as fuel to generate electricity, make fertiliser or turn into CNG and cooking gas only in the western and northern parts of the country, as pipelines taking the fuel from source to users were limited to these parts. In October 2016, work on laying a pipeline from Jagdishpur in Ut

Gail extends net zero carbon emission target by five years to 2035

State-owned gas utility GAIL (India) Ltd on Friday said it has advanced the target to achieve net zero carbon emission by five years to 2035 as it takes multi-prolonged approach to reaching the goal. The company was previously targeting net zero carbon emissions by 2040. "GAIL Board accorded approval to advance its net zero target for Scope-I and 2 emissions by five years, from the year 2040 to year 2035," the company said in a statement. Scope 1 covers emissions from sources that an organisation owns or controls directly -- for example from burning fuel in factories or even in its fleet of vehicles. Scope 2 are emissions that a company causes indirectly and come from where the energy it purchases and uses. For example, the emissions caused when generating the electricity. "This decision follows an extensive study undertaken by GAIL to enhance its sustainability goals and align with India's broader net zero commitments," it said. "GAIL plans to achieve this ambitious goal through

PSU shares slump up to 8% as investors book profit, track LS poll results

Shares of state owned companies fell on the BSE in Tuesday's early trades. The BSE CPSE index was down by 8.3 per cent at 4,025 levels.

IOC, GAIL, ONGC fined for 4th straight quarter for not appointing directors

State-owned oil and gas giants including IndianOil, ONGC and GAIL (India) Ltd have been slapped with fines for the fourth straight quarter for failing to meet listing requirements of having the requisite number of directors on their board. Stock exchanges imposed a cumulative fine of Rs 34 lakh on oil refining and fuel marketing giants Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), explorers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), gas utility GAIL, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) for not meeting the listing requirement in the January-March quarter, stock exchange filings showed. In separate filings, the companies detailed the fines imposed by the BSE and NSE for either not having the requisite number of independent directors or the mandated women director in the quarter ended March 31, 2024 (fourth quarter of 2023-24 fiscal year), but were quick to point out tha

Gail to invest Rs 50,000 crore in petrochemical unit in Madhya Pradesh

The new ethane cracking unit aims to meet the domestic demand for petrochemicals, which is projected to nearly triple to $1 trillion by 2040

Gail Q4 results: Profit slips 22% at Rs 2,177 cr from Q3, revenue down 6%

Gail Q4 FY24 results: Consolidated net profit of the country's largest gas distributer grew multi-fold compared to Q4 FY23

Q4 FY24 results: M&M, GAIL, Vodafone among 94 firms to post earnings today

Q4 FY24 company results: Info Edge, Biocon, JK Paper, Solar Industries, Infibeam Avenues, and many more companies will post their fourth-quarter earnings on May 16

Former Gazprom unit rejects GAIL demand for compensation of $1.8 billion

A former unit of Russian energy giant Gazprom has rejected state-owned GAIL (India) Ltd's demand for compensation for non-delivery of LNG supplies in the aftermath of Russia's invasion of Ukraine. In a stock exchange filing, GAIL said SEFE Marketing Trading Singapore Pte Ltd has stated that it does not owe anything other than the defaulted cargoes. GAIL in December last year filed an arbitration claim before the London Court of International Arbitration seeking USD 1.8 billion for "non-supply of LNG cargoes under a long-term contract.. This included compensation for non-supply besides making up for the defaulted volumes. GAIL in 2012 signed a 20-year deal to buy as much as 2.85 million tonnes per annum of liquefied natural gas (LNG) with Russian energy giant Gazprom. The deal was signed with Gazprom Marketing and Singapore (GMTS), which at the time was a unit of Gazprom Germania, now called Sefe. The Russian parent gave up ownership of Sefe after Western sanctions were imposed on