GAIL signs 15-year gas sale and purchase agreement with Oil India
GAIL on Thursday stated that the agreement is to supply up to 900,000 Standard Cubic Meters per Day (SCMD) of natural gas from OIL's Bakhri Tibba Block of Rajasthan, covering Dandewala, Tanot and Bagi Tibba fields.
The agreement was executed by Sumit Kishore, ED (Marketing-Gas), GAIL, and Ranjan Goswami, ED (BD), OIL, in New Delhi.
GAIL also noted that this agreement highlights the dedication of both Maharatna CPSEs in the production, transportation, and distribution of natural gas available from domestic gas fields, demonstrating their collaborative approach to enhancing energy security and accessibility.
The sourced gas will be supplied to the state-run power plant of M/s Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL).
GAIL owns and operates a 16,421 km network of natural gas pipelines spread across the length and breadth of the country, transmitting more than 127 MMSCMD of natural gas in the financial year 2024-25.
It is also working concurrently on the execution of multiple pipeline projects to further enhance the spread.
The company also owns and operates a gas-based Petrochemical Complex at Pata and has a capacity of 810 KTA at Pata and 280 KTA at BCPL.
In addition, GAIL's LNG portfolio stands at 16.56 MMTPA (approximately 60 MMSCMD), accounting for 61 per cent of India's total LNG imports. GAIL and its Subsidiaries / JVs also have a formidable market share in City Gas Distribution.
According to the company statement, it is also expanding its presence in renewable energy like solar, wind, and biofuel. (ANI)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
3 hours ago
- India.com
Maldives President Mohamed Muizzu calls 'India closest and most reliable partner' after PM Modi's 'neighbourhood first' policy
New Delhi, Oct 07 (ANI): Prime Minister Narendra Modi receives Maldives President Mohamed Muizzu, at Hyderabad House in New Delhi on Monday. (ANI Photo) Maldives President Mohamed Muizzu has now called India the Maldives' closest and most trusted friend, a big change from his earlier 'India Out' campaign. He made these remarks during a meeting with Indian Prime Minister Narendra Modi at the Presidential Office in Malé, as part of Modi's two-day state visit to the Maldives. President Muizzu thanked India for always helping the Maldives first whenever there's an emergency. 'India has always been our closest and most reliable partner,' he said. 'We work together in many important areas like safety, trade, health, and education all of which have a direct impact on the daily lives of our people.' He also pointed out how many Maldivians visit India every day for medical treatment, studying, and business. At the same time, he welcomed Indian people living in the Maldives, saying they play an important role in the country's economy and community. Talking about his government's plans, Muizzu said, 'Our goal is to build a strong and fair economy that gives our young people opportunities, prepares them for a digital future, and helps keep peace in the region. India's support is very important in helping us reach these goals.' In addition to praising India for its quick response during the Maldives' crises, President Muizzu also spoke with Prime Minister Modi about many areas where the two countries work together. These include development, infrastructure support, building skills, tackling climate change, and improving healthcare. Special place for Maldives in 'Neighbourhood First' policy: PM Modi PM Modi promised that India would continue to support the Maldives and its people, based on what is needed and important for both nations, as well as for a peaceful and successful region around the Indian Ocean. The two leaders reviewed the progress of their joint plans for better economic and maritime security under the India-Maldives Joint Vision. Modi confirmed that India would work even harder to strengthen their relationship, following its 'Neighbourhood First' approach and the Vision MAHASAGAR policy. They also agreed to boost their defense and maritime security ties and stressed the importance of their cooperation through the Colombo Security Conclave. Agreements between India and Maldives signed during PM Modi's visit to Maldives India and the Maldives signed six MOUs in the fields of fisheries and aquaculture, meteorology, digital public infrastructure, UPI, Indian pharmacopoeia, and concessional Line of Credit. Fisheries and Aquaculture – For better cooperation in marine resources. Meteorology – To share weather data and improve forecasting. Digital Public Infrastructure – To boost digital systems and e-governance. Unified Payments Interface (UPI) – To bring India's digital payment system to the Maldives. Indian Pharmacopoeia – To align medicine standards and quality. Concessional Line of Credit – A financial agreement to support development projects. Financial support includes: A new Line of Credit worth Rs.4,850 crores (about $550 million) was offered by India to help fund infrastructure and other development activities in the Maldives. An Amendatory Agreement was also signed, reducing the Maldives's annual debt repayment burden by 40 per cent, bringing it down from USD 51 million to USD 29 million. Other key announcements and inaugurations: A roads and drainage system project in Addu City (virtually inaugurated). Six High-Impact Community Development Projects across different cities. 3,300 social housing units handed over to benefit local families. 72 vehicles donated for use by the Maldives National Defence Force and Immigration services. Two Aarogya Maitri Health Cube (BHISHM) units gifted, which can treat 200 patients and support a team of six medical workers for up to 72 hours in emergencies.
Time of India
6 hours ago
- Time of India
India–Maldives Ties: 8 key pacts inked in PM Modi-Muizzu meet; UPI, debt relief, fisheries, FTA on table
ANI photo India and the Maldives on Friday exchanged eight important agreements covering debt repayment, fisheries, digital payments, and a new Line of Credit worth Rs 4,850 crore, during PM Narendra Modi's visit to Malé. In the presence of PM Modi and Maldivian President Mohamed Muizzu, both sides reaffirmed their commitment to a stronger economic and maritime partnership. India agreed to ease Maldives' loan repayment burden by 40%, and push digital ties through UPI, RuPay and local currency trade. PM Modi also handed over 3,300 social housing units, vehicles for security forces, and medical aid kits. He and President Muizzu jointly inaugurated infrastructure projects and pledged cooperation on climate, disaster risk, and renewable energy. The visit also marked 60 years of Maldives' independence and India-Maldives diplomatic ties. PM Modi called the agreements a reflection of India's 'Neighbourhood First' approach and long-standing friendship with the island nation.
Time of India
8 hours ago
- Time of India
In Delhi, Fadnavis Pitches ₹10,000 Crore Fertiliser Plant for Vidarbha
Nagpur: Maharashtra chief minister Devendra Fadnavis has proposed a ₹10,000 crore fertiliser plant in Nagpur district, positioning it as a game-changing investment to revive Vidarbha's agrarian economy. The proposed project, a joint venture between GAIL, the department of fertilizers, and the state government, will have an annual production capacity of 12.7 lakh tonnes. During a meeting with Union health minister JP Nadda in Delhi, Fadnavis—who is on a two-day visit to the national capital—requested central subsidy and policy clearance. "This will be a transformative project for Vidarbha," the CM said, highlighting its dual impact on rural employment and fertiliser availability. Nadda responded by instructing the state to submit a cabinet proposal. Fertilizers secretary Ratak Kumar Mishra was also present at the meeting. Fadnavis' visit included a series of high-level meetings to accelerate approvals for major infrastructure and environmental projects. In a meeting with finance minister Nirmala Sitharaman, he sought clearance from the ministry of economic affairs for five international funding proposals. These included ₹8,651 crore from the Asian Development Bank to connect villages with concrete roads, ₹4,326 crore for coastal protection, and another ₹4,326 crore to treat municipal wastewater for industrial reuse. Two additional proposals, routed through the World Bank, were also discussed. Sitharaman, acknowledging Maharashtra's financial discipline, assured full cooperation. "Maharashtra has maintained strong economic indicators on every front," she said. Finance secretary Anuradha Thakur, chief economic advisor to the CM Praveen Pardeshi, and principal secretary Ashwini Bhide attended the meeting. Fadnavis also pushed for a ₹22,490 crore rural road network project covering 14,000 km under the ministry of rural development. These 25-year maintenance-free roads, supported by ADB funding, are expected to ease transportation for farmers. Union agriculture minister Shivraj Singh Chouhan praised the plan and lauded the state's performance in housing schemes. "The central govt has sanctioned a record 30 lakh homes for the state," he noted. At NITI Aayog, Fadnavis discussed projects worth ₹4,326 crore each, including the use of artificial intelligence for non-communicable disease (NCD) screening and bamboo-based industrial clusters. He also presented progress updates on the ₹8,651 crore Marathwada Water Grid, the Damanganga-Godavari river-link project, and a skill development plan linking ITIs with private industry. The commission assured timely clearances. "Despite the Fiscal Responsibility and Budget Management (FRBM) limit of 25%, Maharashtra has stayed within 18%," said CEO BVR Subrahmanyam, commending the state's fiscal prudence.
