GAIL (India) Ltd is getting aggressive on sourcing LNG from international market as well as acquiring overseas assets linked to equity gas/LNG through mergers and acquisitions.

This is to meet the growing gas demand amidst limited domestic supplies, Mr B.C. Tripathi, Chairman and Managing Director, GAIL said. The company is looking at Asia, CIS countries, Africa and North America to expand its international portfolio in gas value chain.

He said this while addressing the company's shareholders at the 27th AGM here on Wednesday. “The company is planning to consolidate its operations in exploration and production to deliver higher value through this segment,” he said.

The company aims to foray further into gas-based power, renewable power and unconventional energy sources like shale gas, CBM and coal gas. During the current fiscal GAIL will set up over 115 MW of wind based renewable power projects at an investment of nearly Rs 700 crore in various states, Mr Tripathi said.

“Thrust would also be given to seeding investment in emerging technologies like fuel cells and hydrogen etc, through pilot projects,” he said.

The company has a capex plan of about Rs 35,000 crore till 2014-15, with focuses on pipeline network expansion and petrochemical expansion besides other key business areas.

Sharing the company's ambitious forward looking plan going up to 2020, he said, the target is to reach a turnover of Rs 1 lakh crore by 2016-17. During the last fiscal, the company registered a turnover of Rs 32,459 crore, up 30 per cent from the previous fiscal.

Related Topics
comment COMMENT NOW