GAIL India Ltd was given maharatna status today. Maharatna status would empower its board to take major decisions.

B.C. Tripathi, GAIL Chairman and Managing Director, said, with this decision the Government has shown confidence in GAIL and its management. They have recognised GAIL’s ability to deliver, he said.

This would enable GAIL to take larger decisions and deliver much better results, he added. GAIL would need to get five new independent directors on Board to claim the Maharatna status.

Partnership with EDF

GAIL is looking forward to tie up with France’s EDF.

“We would be a partner in terms of gas trading and sourcing in the US. Going forward, we would be collectively acquiring shale gas assets. Then they would also enter into downstream business here. They may come and partner with us for gas trading in India or outside the US,” Tripathi said.

The partnership is expected to be discussed and MoU signed when an Indian delegation led by Petroleum Ministry M. Veerappa Moily visits the US this week.

IMPORTS

Last year, GAIL imported 24 cargoes. “This year, we have 26 term cargoes lined up... We will be having a portfolio already for 7 million tonnes,” Tripathi said.

He added that after Dabhol getting commissioned, there is a new gateway available to source more gas. “The second cargo has arrived at Dabhol today. We will be bringing more and more spot cargoes.”

GAIL plans to get at least two cargoes every month till May. After this, the port would be shut for few months and imports would resume from October.

richa.mishra@thehindu.co.in

Siddhartha.s@thehindu.co.in

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