Press Releases
[New Delhi, 28th June, 2006]

GAIL signs Annual MoU

New Delhi, June 28, 2006: GAIL (India) Ltd. has signed annual Memorandum of Understanding for performance targets for the Financial Year 2006-07. The MoU was signed by Mr. M.S. Srinivasan, Secretary, Ministry of Petroleum and Natural Gas and Mr. Proshanto Banerjee, Chairman and Managing Director, GAIL. Senior officials from the Government and Directors of GAIL were present on the occasion.

During the year 2006-07, to achieve the ‘Excellent target’, the company has targeted for transmission of 76.67 MMSCMD of natural gas from domestic sources and through LNG route. It includes the gas marketing target of 69 MMSCMD. The MoU also provides for a production target of 320,000 MT of polymers (HDPE and LLDPE) and about 1.25 million tonnes of liquid hydrocarbons.

The company’s performance will be assessed on key financial parameters as also dynamic parameters such as Project Implementation, Gas Sourcing, Customer Focus, Safety, Enterprise-Efficiency etc.