GAIL (India) Limited

GAIL signs Annual MoU for FY 2008-09

New Delhi, March 25, 2008.

GAIL (India) Limited today signed Annual Memorandum of Understanding for performance targets for the Financial Year 2008-09. The MoU was signed between Mr.M.S. Srinivasan, Secretary, Ministry of Petroleum & Natural Gas and Dr. U.D. Choubey, Chairman and Managing Director, GAIL. Senior officials from the Government and Directors of GAIL were also present on the occasion.

During the FY 2008-09, to achieve the Excellence in performance, the Company has targeted for Gas Transmission of around 81.5 MMSCMD of natural gas from domestic sources and through LNG route. It includes the Gas Marketing target of around 70 MMSCMD. The MoU also provides for an ‘Excellent’ production target of 390 TMT of Polymers (HDPE & LLDPE) and 1,260 TMT of Liquid Hydrocarbons.

The Company’s performance will be assessed on key financial parameters and also dynamic and sector / enterprise-specific parameters such as Gas Sourcing, E&P and CBM, City Gas Projects, Pipeline Projects Implementation, Business Development & Globalization, Safety, Customer Focus, Quality Management etc.