Gujarat Gas Co (GGCL) has executed a long-term gas supply contract with its parent Gujarat State Petroleum Corporation (GSPC) for the purchase of 0.65 million metric standard cubic metre per day (mmscmd) for next 12 years. Under the agreement, GSPC will supply imported re-gassified liquefied natural gas (R-LNG) to GGCL from 1 January 2014 up to 1 July 2025. The move is seen as a major relief for GGCL, as it will get assured gas supply for a long period.
Tag: Gujarat Gas Co
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Gujarat Gas may face low gas volume
Some analysts feel that the gas volume of Gujarat Gas Co. may be muted in the coming months because of falling domestic output of natural gas. The company may hesitate to import regassified liquefied natural gas (RLNG) as it is costlier than domestically produced gas. Also, most of Gujarat Gas consumers are from the industrial segment and this limits the companyĂâs ability to increase costs, some analy
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GSPC completes stake buy in GGCL
GSPC is learnt to have completed the acquisition of
65.12 per cent stake in Gujarat Gas Co (GGCL) for about Rs 2,460 crore from London-based BG Group. Reserve Bank of India (RBI) and the Competition Commission of India (CCI) have already approved the transaction between BG Group and GSPC. Gujarat Gas Co (GGCL) is the largest private natural gas distributor in India. In October 2012, BG Group entered into a binding agreement for the sale of the s
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BG Group's stake in GGCL
The Adani group and state-run oil companies have signed confidentiality agreements to bid for the controlling stake of the BG Group in Gujarat Gas Co (GGCL).