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    GAIL   INE129A01019

GAIL INDIA LIMITED

(GAIL)
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Delayed NSE India Stock Exchange  -  07:22 2022-07-05 am EDT
133.80 INR   +0.19%
06/30GAIL (India) to Get New Chairman
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06/22India's GAIL to enter gas liquefaction for retail sales
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06/22GAIL (India) to Enter Liquefied Natural Gas Production Business
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India's GAIL to enter gas liquefaction for retail sales

06/22/2022 | 08:16am EDT
FILE PHOTO: Birds fly past the logo of India's state-owned natural gas utility GAIL (India) Ltd in New Delhi

NEW DELHI (Reuters) - Indian gas firm GAIL (India) Ltd plans to liquefy natural gas for easy transportation and sale in areas that are not connected with the pipeline grid, helping the nation boost use of the cleaner fuel.

Prime Minister Narendra Modi wants to raise the share of cleaner fuel in the country's energy mix to 15% by 2030 from the current 6.2% as India aims for net zero carbon by 2070.

To meet that objective companies are investing billions of dollars to build gas infrastructure including liquefied natural gas (LNG) import terminals, pipelines and setting up LNG fuelling stations.

GAIL will be setting up portable liquefaction units on a pilot basis at two sites for liquefaction of natural gas, the company said in a statement on Wednesday.

"It will be first of its kind in the country to introduce portable and scalable liquefaction units," it said.

It is easy to transport gas in a liquid form to areas where the pipeline network is not developed. Easy transportation of gas will also aid in setting up LNG fuelling stations and bunkering in the country.

Indian companies are setting up 50 LNG fuelling stations along a 6,000-km network of highways linking the four main metropolitan areas. The country plans to raise the number to 1,000 in the next few years.

(Reporting by Nidhi Verma; Editing by Chizu Nomiyama)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GAIL INDIA LIMITED 0.19% 133.8 Delayed Quote.3.37%
S&P GSCI NATURAL GAS INDEX -4.08% 257.3743 Real-time Quote.53.62%
All news about GAIL INDIA LIMITED
06/30GAIL (India) to Get New Chairman
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06/22India's GAIL to enter gas liquefaction for retail sales
RE
06/22GAIL (India) to Enter Liquefied Natural Gas Production Business
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06/22Indian shares drop over 1% after pullback rally fizzles
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06/18Tranche Update on GAIL Limited's Equity Buyback Plan announced on March 31, 2022.
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06/16Fitch Retains BBB- Rating on GAIL (India); Raises Outlook to Stable
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06/09GAIL INDIA : Related Party Transaction
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06/07GAIL Limited's Equity Buyback announced on March 31, 2022, has closed with 56,985,463 s..
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Financials
Sales 2022 841 B 10 659 M 10 659 M
Net income 2022 98 155 M 1 244 M 1 244 M
Net Debt 2022 20 500 M 260 M 260 M
P/E ratio 2022 6,12x
Yield 2022 6,76%
Capitalization 586 B 7 430 M 7 430 M
EV / Sales 2022 0,72x
EV / Sales 2023 0,64x
Nbr of Employees 4 705
Free-Float 41,0%
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Number of Analysts 0
Last Close Price 133,80
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Managers and Directors
Manoj Jain Chairman & Managing Director
Rakesh Kumar Jain Chief Financial Officer & Executive Director
Anil Kumar Jha Secretary & Compliance Officer
Akhilesh Jain Independent Director
Sher Singh Independent Director
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