Gujarat State Petronet Updates on agreement with RIL

With reference to the earlier announcement dated September 04, 2006, regarding the Company has signed agreement on September 01, 2006 with Reliance Industries Ltd for transportation of 11 mmscmd gas from Bharuch to Jamnagar for a period of 15 years starting from first quarter of financial year 2008-2009, Gujarat State Petronet Ltd has announced that to provide the following additional details regarding formal signing of detailed agreement between the Company and Reliance Industries Ltd (RIL):

1. RIL has an option to increase the volumes of gas upto 14 mmscmd.

2. RIL would transport portion of its KG Gas from Kakinada through its East West Pipeline and deliver the same to the Company at Bharuch.

3. For transportation of Gas, the Company would use its existing pipeline and develop new pipelines between Bharuch to Hadala and Rajkot to Jamnagar.

Source : Equity Bulls

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