India: GAIL Signs Annual MoU with MoP&NG

GAIL (India) Limited has set a target of transmitting 118.2 MMSCMD of natural gas from domestic sources and through LNG route during FY 2011-12 under the Annual Memorandum of Understanding signed with Ministry of Petroleum & Natural Gas for performance targets for the Financial Year 2011-12.

The MoU was signed between Mr.S. Sundareshan, Secretary, Ministry of Petroleum & Natural Gas and Mr. B. C. Tripathi, Chairman and Managing Director, GAIL in presence of Shri Sudhir Bhargava, Additional Secretary, MoPNG, Shri Apurva Chandra, Joint Secretary, MoPNG, Shri R. D. Goyal, Director (Projects), GAIL, Shri S. L. Raina, Director (HR), Shri Prabhat Singh, Director (Marketing), Shri S. Venkatraman, Director (BD) and Shri P. K. Jain, Director (Finance) and other senior officials from the Government and GAIL were also present on the occasion.

For the FY 2011-12, the Excellence in performance target for Gas Marketing is 85.5 MMSCMD and for production of 422 TMT of Polymers (HDPE & LLDPE) and 1,350 TMT of Liquid Hydrocarbons.

Apart from the key physical and financial parameters, the Company’s performance will be assessed also on dynamic parameters such as Implementation of Pipeline, Petrochemical & City Gas Projects, O&M, Marketing & Capacity Utilization, E&P, Corporate Social Responsibility (CSR), Sustainable Development, Corporate Governance, Research & Development, Human Resource Management, Safety, Customer Focus etc. One of the key thrust areas of the Company would be on Globalization with a specific parameters on Mergers and Acquisitions.

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Source: GAIL, March 24, 2011;