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GAIL gets MOU excellence award for the second consecutive year
New Delhi, 01, February, 2012: GAIL (India) Limited received the coveted MoU Excellence Award in Petroleum Sector for year 2009-10 by Dr.Manmohan Singh, Hon’ble Prime Minister of India at New Delhi on 31st January 2012. Mr. B C. Tripathi Chairman and Managing Director GAIL (India) Limited received this award on behalf of GAIL from Hon’ble Prime Minister in presence of ShriPraful Patel, Hon’ble Minister of Heavy Industries & Public Enterprises and Secretary, Department of Public Enterprises.This is the second consecutive year that GAIL has bagged the award as the best performing CPSE in the Petroleum Sector.
GAIL (India) Limited is India's flagship Gas Public Sector Enterprise in the natural gas value chain. It started as a single project company around 27 years back and today it has grown organically to a turnover of around Rs 32,500 Crore and PAT of Rs 3561 crore. Over the years, GAIL has transformed into an integrated energy company with global footprints by following its philosophy of Excellence With Ethics. Today GAIL is not only the market leader in India Gas transmission, gas marketing and City Gas segments but it has also carved global distinctions for itself. Having started as a gas transmission company during the mid eighties, it has grown organically over the years by building large network of Natural Gas trunk Pipelines covering a length of 9000 km at present. GAIL is further constructing 5000 km of additional pipeline network by 2014-15. GAIL has leveraged its core competence by way of setting-up two LPG Pipelines in the country covering a total length of over 2000 KM, including world’s longest exclusive Liquefied Petroleum Gas (LPG) Transmission Pipeline (Jamnagar-Loni pipeline).
GAIL’s business activities ranges from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications. The Company has extended its presence in Power, Liquefied Natural Gas (LNG) re-gasification, City Gas Distribution and Exploration & Production through equity and joint venture participations.
Further, CSR & sustainability development initiatives are accorded high priority in the organizational ethos and attempted to be interwoven in all its business activities. Towards this, GAIL has allocated an annual budget of 2% of the previous year’s PAT for CSR activities and constituted a separate sub-committee of the board for CSR and Sustainability.
In the last two decades, GAIL has created a sizeable natural gas market in the country and presently has a capacity to transport 220 MMSCMD of Natural Gas through its Transmission Network. Currently, GAIL’s market share in gas transmission in the country is 72% with plans to double up the existing transportation capacity in the next two to three years.
Besides holding equity in Kochi and Dahej terminals, GAIL, through Ratnagiri Gas & Power Pvt. Ltd., is in the process of commissioning a re-gas terminal at Dabhol (west coast of India) for 5 MMTPA and plans to set up floating LNG Terminals at the east coast.
GAIL (India) Limited has signed recently a Sales and Purchase Agreement (SPA) for supply of LNG over 20 years with Sabine Pass Liquefaction, LLC, a subsidiary of Cheniere Energy Partners, L.P., USA for supply of 3.5 million tonnes per annum (MTPA) of LNG. This LNG from Sabine Pass shall form a part of the basket for feeding LNG to Dabhol LNG terminal and LNG terminal in the eastern coast in India, in addition to the utilization of capacity of other terminals in India.
GAIL has acquired its first shale gas assets in the USA through its wholly owned US subsidiary GAIL Global (USA) Inc. The subsidiary company, which has opened an office in Houston, has executed definitive agreements with Carrizo Oil & Gas Inc. based in Houston, Texas, to enter into an unincorporated joint venture, under which GAIL Global (USA) Inc. has acquired a 20% interest in Carrizo's Eagle Ford Shale acreage position. The Joint Venture has 20,200 gross acres, out of which GAIL subsidiary would have 4,040 net acres spread over four counties in Texas.
GAIL has also set up a wholly-owned subsidiary company viz. GAIL Global (Singapore) Pte.Ltd. in Singapore for sourcing LNG, trading of LNG and petrochemicals and overseas investments. An office has been set up in Singapore for this purpose.
Photo caption: Mr. B C Tripathi, Chairman & Managing Director, GAIL receiving MoU Excellence Award from Dr.Manmohan Singh, Hon’ble Prime Minister of India in presence of ShriPraful Patel, Hon’ble Minister of Heavy Industries & Public Enterprises and Secretary, Department of Public Enterprises and Chairman SCOPE.
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GAIL third quarter PAT up by 13% , Turnover (net of Excise) up by 35%
GAIL nine months PAT up by 14% , Turnover (net of Excise) up by 27%
New Delhi, January 23, 2012. GAIL (India) Limited registered a turnover (net of Excise Duty) of Rs. 11260 crore in the third quarter of FY 2011-12 as against Rs.8365 Crore, a 35 percent increase over the turnover in the corresponding period during the last financial year. GAIL’s Net Profit for the third quarter of the FY 2011-12 increased by 13 percent to Rs. 1091 crore against Rs. 968 crore in the corresponding period previous year. The Gross Margin increased by 19 percent to Rs. 1,816 crore in the third quarter of the current financial year against Rs. 1,524 crore in the corresponding period last year. The Profit Before Tax increased by 19 percent to Rs. 1,598 crore in the third quarter of the current financial year against Rs. 1,347 crore in the corresponding period last year.
Segment-wise Revenue
During the third quarter of the current financial year, revenues from Natural Gas Transmission business have increased by 9 percent to Rs. 1,087 crore as against Rs. 1,001 crore in the corresponding period of previous year. The net sales from Petrochemicals business have increased by 54 percent to Rs. 878 crore as against Rs. 571 crore in the corresponding period of last year. The net sales from LPG and Liquid Hydrocarbons business during the third quarter of the current financial year have increased by 33 percent to Rs. 966 crore as against Rs. 729 crore in the corresponding period of last year. The sales from Natural Gas Trading during the third quarter of the current financial year increased by 35 percent to Rs. 9,149 crore as against Rs. 6,773 crore in the corresponding period of the last year. The revenues from LPG transmission during the third quarter of the current financial year have decreased by 5 percent to Rs. 122 crore as against Rs. 129 crore in the corresponding period last year.
The increase in net profit during the third quarter of the current financial year was mainly due to the increase in Natural Gas trading, Natural gas transmission, Petrochemical and Liquid Hydrocarbon.
Physical Performance
During the third quarter of the current financial year, the Natural Gas sales were 84.94 MMSCMD, up 2 percent from 83.36 MMSCMD during the corresponding period last year. During the third quarter of FY 2011-12, the petrochemical production was 118 TMT, up 16 percent from 102 TMT in the corresponding period last year. The polymer sales during the third quarter of the current financial year were 113 TMT, increased by 40 percent from 81 TMT in the corresponding period in the previous year. The LPG transmission during the third quarter of the current financial year was 870 TMT, down by 3 percent from 893 TMT during the corresponding period in the previous financial year. The LPG and Other Liquid Hydrocarbon production during the third quarter of the current financial year was 359 TMT, up 8 percent from 332 TMT in the corresponding period last year. The LPG and Other Liquid Hydrocarbon sales during the third quarter of the current financial year were 361 TMT, up 9 percent from 331 TMT in the corresponding period last year. The Natural Gas transmission during the third quarter of the current financial year was 119.06 MMSCMD, decreased by 1 percent from 120.19 MMSCMD in the corresponding period last year.
Nine months Results
GAIL (India) Limited registered a turnover (net of Excise Duty) of Rs. 29,826 crore in the first nine months of FY 2011-12 as against Rs.23,565 Crore, a 27 percent increase over the turnover in the corresponding period last financial year. GAIL’s Net Profit after tax for the first nine months of the FY 2011-12 increased by 14 percent to Rs. 3,170 crore against Rs. 2,778 crore in the corresponding period previous year. The Gross Margin increased by 13 percent to Rs. 5,250 crore in the first nine months of the current financial year against Rs. 4,633 crore in the corresponding period last year. The Profit Before Tax increased by 12 percent to Rs. 4,609 crore in the nine month of the current financial year against Rs. 4,101 crore in the corresponding period last year.
Segment-wise Revenue
During the nine months of the current financial year, revenues from Natural Gas Transmission have increased by 4 percent to Rs. 3,006 crore as against Rs. 2,877 crore in the corresponding period in the previous year. The net sales from Petrochemicals business have increased by 27 percent to Rs. 2,452 crore as against Rs. 1,930 crore in the corresponding period of last year. The net sales from LPG and Liquid Hydrocarbons business during the nine months of the current financial year have increased by 23 percent to Rs. 2,768 crore as against Rs. 2,246 crore in the corresponding period of last year. The revenues from LPG transmission during the nine months of the current financial year have decreased by 3 percent to Rs. 346 crore as against Rs. 357 crore in the corresponding period last year. The revenues from Natural Gas Trading during the nine months of the current financial year increased by 29 percent to Rs. 23,930 crore as against Rs. 18,514 crore in the corresponding period of the last year.
Physical Performance
The Natural Gas transmission during the nine months of the current financial year was 118.29 MMSCMD, up 1 percent from 117.09 MMSCMD in the corresponding period last year. The Natural Gas sales during the nine months of FY 2011-12 were 83.74 MMSCMD, up 2 percent from 82.41 MMSCMD during the corresponding period last year. During the nine months of the current financial year, petrochemical production was 338 TMT, up 15 percent against 294 TMT in the corresponding period last year. The petrochemical sales during the nine months of the current financial year were 330 TMT, increased by 20 percent from 276 TMT in the corresponding period in the previous year. The LPG transmission during the nine months of the current financial year was 2,483 TMT as against from 2,480 TMT during the corresponding period in the previous financial year. The LPG and Other Liquid Hydrocarbon production during the nine month of the current financial year were 1,088 TMT, increased by 6 percent from 1,030 TMT in the corresponding period last year. The LPG and Other Liquid Hydrocarbon sales during the nine months of the current financial year were 1,089 TMT, up 5 percent from 1,034 TMT in the corresponding period last year. |
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New Delhi, December 12, 2011. GAIL (India) Limited has signed a Sales and Purchase Agreement (SPA) for supply of LNG over 20 years with Sabine Pass Liquefaction, LLC, a subsidiary of Cheniere Energy Partners, L.P., USA for supply of 3.5 million tonnes per annum (MTPA) of LNG.
The LNG would be supplied from train four of the Sabine Pass LNG receiving terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana. The Sabine Pass LNG terminal project is being developed by Sabine Liquefaction and would include up to four liquefaction trains capable of producing up to 18 mtpa of LNG. The project is being developed in phases with each LNG train commencing operations approximately six to nine months after the previous train. Sabine Liquefaction has recently announced that it has reached its targeted annual contract quantity of 7 mtpa for the first phase and is advancing towards making a final investment decision for the development and construction of the first two liquefaction trains. The SPA with GAIL represents the first contract for the second phase of the project, which will also include two liquefaction trains with combined production capacity of 9.0 mtpa.
Under the SPA, GAIL will pay Sabine Liquefaction as per contractual provisions on a Henry Hub basis after transfer of custody on FOB. LNG will be loaded onto GAIL’s vessels. The SPA has a term of twenty years commencing upon the date of first commercial delivery, and an extension option of up to ten years. LNG deliveries are expected to occur upon commencement of operations of train four in 2017. However, bridging supplies of LNG will start from train two in the year 2016. The SPA is subject to certain conditions precedent, including but not limited to Sabine Liquefaction receiving regulatory approvals, securing necessary financing arrangements and making a final investment decision to construct the second phase of the liquefaction project.
Commenting on the development, Mr. B. C. Tripathi, Chairman & Managing Director, GAIL (India) Limited said, “The SPA with Cheniere will help GAIL to ensure long term gas supply for the growing demand in the Indian market. This will be in addition to other initiatives being undertaken by GAIL which includes building captive LNG facilities in India and augmenting its transmission capacity from 175 MMSCMD to over 300 MMSCMD over the next two years. GAIL has already established an office in Houston and acquired shale gas assets in Carrizo's Eagle Ford Shale acreage and is further looking for shale gas assets in the US”.
“GAIL will join BG and Gas Natural Fenosa as the next foundation customer for our Sabine Pass liquefaction project. GAIL is India’s leading natural gas company and its largest shareholder is the Government of India,” said Charif Souki, Chairman and CEO. “We are building a strong portfolio of customers, consisting of energy companies engaged in the natural gas, LNG and power markets with operations spanning the globe. We continue to hold advanced discussions with additional global LNG buyers and expect to complete commercial discussions for the remaining capacity of the second phase of the project in the coming weeks.”
GAIL (India) Limited is India's flagship Gas Transmission and Marketing Company under the Ministry of Petroleum and Natural Gas, Government of India. Over the years, GAIL has transformed into an integrated energy company with global footprints by means of integrating along the Natural Gas value chain. After having started as a gas transmission company during the mid eighties, it has grown organically over the years by building large network of Natural Gas trunk Pipelines covering a length of 9000 km at present. GAIL is further constructing 5000 km of additional pipeline network by 2014-15. GAIL has leveraged its core competence by way of setting-up two LPG Pipelines in the country covering a total length of over 2000 KM, including world’s longest exclusive Liquefied Petroleum Gas (LPG) Transmission Pipeline (Jamnagar-Loni pipeline).
In the last two decades, GAIL has created a sizeable natural gas market in the country and presently has a capacity to transport 175 MMSCMD of Natural Gas through its Transmission Network. Currently, GAIL’s market share in gas transmission in the country is 72% with plans to double up the existing transportation capacity in the next two to three years.
Besides holding equity in Kochi and Dahej terminals, GAIL, through Ratnagiri Gas & Power Pvt. Ltd., is in the process of commissioning a re-gas terminal at Dabhol (west coast of India) for 5 MMTPA. GAIL is also planning to develop an LNG re-gas terminal in the east coast of India. This LNG from Sabine Pass shall form a part of the basket for feeding LNG to both these terminals, in addition to the utilization of capacity of other terminals in India.
GAIL has acquired its first shale gas assets in the USA through its wholly owned US subsidiary GAIL Global (USA) Inc. The subsidiary company, which has opened an office in Houston, has executed definitive agreements with Carrizo Oil & Gas Inc. based in Houston, Texas, to enter into an unincorporated joint venture, under which GAIL Global (USA) Inc. has acquired a 20% interest in Carrizo's Eagle Ford Shale acreage position. The Joint Venture has 20,200 gross acres, out of which GAIL subsidiary would have 4,040 net acres spread over four counties in Texas.
GAIL has also set up a wholly-owned subsidiary company viz. GAIL Global (Singapore) Pte. Ltd. in Singapore for sourcing LNG, trading of LNG and petrochemicals and overseas investments. An office has been set up in Singapore for this purpose.
Cheniere Partners owns 100 percent of the Sabine Pass LNG receiving terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana. The Sabine Pass terminal has regasification and send-out capacity of 4.0 billion cubic feet per day (Bcf/d) and storage capacity of 16.9 billion cubic feet equivalent (Bcfe). Cheniere Partners is developing a project to add liquefaction and export capabilities to the existing infrastructure at the Sabine Pass LNG terminal.
GAIL team led by Mr. B C Tripathi, Chairman & Managing Director accompanied by Mr. Prabhat Singh, Director (Marketing), Mr. S L Raina, Director (HR), Mr. S Venkatraman, Director (BD) and Shri Arun Singhal, CVO [in New Delhi] and the team from Cheniere led by Mr. Charif Souki, Chairman and CEO [in Houston] after the signing of SPA. |
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Sh B.C. Tripathi, CMD GAIL, along with Sh Prabhat Singh, Director (Marketing), Sh R.M. Sethi, Independent Director and Dr. Vinayshil Gautam, Independent Director visited RGPPL Dabhol on 25.11.2011. He reviewed the LNG project status and visited the Plant areas and Dredging site to see the ongoing activities in view of the planned LNG terminal commissioning in the last week of Jan 2012. |
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GAIL opens office at Singapore
Singapore, November 2, 2011. GAIL (India) Limited, the flagship natural gas company of the Government of India has opened office at Singapore. The Company would be operating in Singapore through its subsidiary GAIL Global (Singapore) Pte. Ltd. (GGSPL). Mr. B. C. Tripathi, Chairman & Managing Director, GAIL today inaugurated the new office of the Singapore arm of GAIL with the primary purpose of sourcing Natural Gas for the Indian market and trading in LNG, petrochemicals and related products. The new office will be operational from Wangz Business Centre, Suntec Tower One, 7 Temasek Boulevard, Singapore.
GAIL Global (Singapore) Pte. Ltd. was set up as an overseas investment arm of GAIL and will now focus on activities pertaining to gas sourcing, gas trading and petrochemical trading. The Company would undertake purchase and sale of LNG cargoes on Spot / Short-Term for trading. So far, GAIL, through the Singapore arm, has made investments in China, Egypt & other countries and would be pursuing opportunities for further investment in different countries.
Mr. B C Tripathi, CMD, GAIL formally inaugurated the office by cutting ribbon which was followed by a small ritual to bless the new initiative of GAIL. Thereafter, CMD interacted with the Singapore media wherein he shared the company’s plans for expansion in the global arena.
Later on CMD had an interaction with the Board Members and other top management team members in India through video conferencing.
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27th AGM of GAIL
The 27th Annual General meeting of GAIL (India) Limited was held on 7th September 2011 at New Delhi. The AGM was attended by CMD, GAIL, all functional Directors and Independent Directors on the Board of GAIL.
In his address, CMD, GAIL shared the financial performance of the company. Emphasizing the growing importance of natural gas as an energy resource in the country, he said that Natural gas is expected to contribute significantly to meet growing energy requirement of the economy and supply from domestic production as well as imported sources is likely to increase further in the coming years. This would offer several opportunities for the development of gas market in the country. GAIL is taking several steps and initiatives to not only shape this emerging market but also continue to be a major player in the industry.
He also spoke about the various business initiatives being taken by GAIL to augment the pipeline network to 14,500 km as well the petrochemical capacity to 1.7 MMTPA. He also informed that the approval for transfer of CGD assets in Agra and Firozabad to its wholly owned subsidiary, GAIL Gas Limited, has been passed with thumping majority through postal ballot. In line with its environmental responsibility, GAIL is diversifying in new business areas like wind and solar power and actively scouting for opportunities in gas based power generation projects.
CMD, GAIL also shared the vision 2020 of the Company to achieve a target of Rs. 1 lakh crore by 2016-17. The primary thrust areas of Strategy 2020 are expansion, diversification and globalization of existing businesses and developing new revenue streams for future. GAIL will continue to build on its strengths in the core business areas, through expansion of pipeline networks and increasing the capacity in petrochemicals segment. Opportunities for petrochemical projects based on alternative feedstock are also being pursued. He further said that as GAIL has been a pioneer in building environment friendly businesses, it aims to foray further into gas-based power, renewable power and unconventional energy sources like Shale Gas, CBM and Coal Gas. Thrust would also be given to seeding investment in emerging technologies like Fuel cells and Hydrogen etc. through pilot projects. To realize these ambitious goals, internal capability and capacity building and evolving strong enterprise architecture, will remain a focus area for GAIL.
Shri Tripathi shared some of the important activities undertaken by GAIL in the field of CSR and for furthering corporate governance. He said that GAIL has received “NIL” comments from Comptroller & Auditor General of India for 2010-11 which underlines its commitment for the best accounting and disclosure practices.
He also spoke about the various awards that GAIL received in the recent past including the Asia’s No. 1 Gas Utility by Platts.
He thanked all the stakeholders of GAIL including MoPNG, Board Members, Team GAIL and shareholders for their continuous support.
After the CMD’s speech, the Resolutions as mentioned in the Agenda for the AGM circulated vide the Notice for AGM were taken up and passed by the shareholders.
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 Continuing its initiative to honour former GAIL employees and recognize their contribution in the growth story of the company, a get-together was organized at GTI, Noida on 12th August 2011 on the occasion of the 28th Foundation of GAIL. Aptly titled 'Yesterday Once More', the evening was graced by the presence like former Chairman and Managing Directors, including Mr. H S Cheema, Mr. C R Prasad, Mr. J K Jain, Mr. Prashanto Banerjee, Mr. S P Rao, Dr. U D Choubey with the host of the evening, Mr. B C Tripathi, Chairman and Managing Director. Other former employees of the Company also participated in the event and underlined their statements of appreciation. The evening was marked by zest and emotions expressed through speeches of Mr. J K Jain and Mr. Prashanto Banerjee. While Director (HR), Mr. S L Raina set the tone with the welcome speech giving a small presentation of HR benefits for the ex- employees of the Company, Mr. B C Tripathi, Chairman and Managing Director spoke about the growth path of the Company. |
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 GAIL (India) Limited registered an increase of 25% in Turnover (net of Excise) of Rs 8,867 crore in the 1st quarter of FY 2011-12 against Rs 7,096 crore in the corresponding previous year quarter. The Profit Before Tax increased by 9% to Rs 1,443 crore in the 1st quarter of the current financial year against Rs 1,322 crore in the corresponding quarter of previous year. |
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 Shri S. Jaipal Reddy dedicates GAIL’s Chainsa - Sultanpur – Neemrana pipeline to the Nation
Shri S. Jaipal Reddy launches new look website of GAIL
Shri S. Jaipal Reddy visits GAIL Corporate Office, reviews activities
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 GAIL Gas Limited and Vadodara Mahanagar Sewa Sadan set up Joint Venture for
City Gas Distribution
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 Shri R P N Singh, Hon’ble Minister of State for Petroleum and Natural Gas
today
taking a review meeting with GAIL management
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Recent Events 
