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Gail MoU for performance targets

Our Bureau

NEW DELHI: Gail (India) Ltd has signed an annual memorandum of understanding (MoU) for performance targets for the financial year 2005-06 with the Ministry of Petroleum and Natural Gas.

The MoU was signed by Mr S.C. Tripathi, Secretary, Ministry of Petroleum and Natural Gas, and Mr Proshanto Banerjee, Chairman and Managing Director, Gail.

During 2005-06, the company has targeted a transmission of 75.10 MMSCMD (metric million standard cubic meters per day) of natural gas, including 16.22 MMSCMD of regasified LNG, according to a company release.

The MoU also provides for a production target of 3,10,000 million tonnes (MT) of polymers (HDPE and LLDPE) and about one MT of LPG.

The company's performance will be assessed in terms of key financial parameters as also dynamic parameters such as project implementation, gas sourcing, customer focus, safety, and enterprise-efficiency.

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