GAIL signs MoU with Shell Energy India Pvt. Ltd.

GAIL (India) Limited has signed a Memorandum of Understanding (MoU) with Shell Energy India Private Limited to explore opportunities in different facets of energy value chain. For GAIL, this is a step towards achieving improved sustenance in business operations.

In a bid towards diversification of the feedstock for its petrochemical plant, GAIL is looking to import ethane from ethane-surplus countries with matured export terminal infrastructure through water borne transportation to India and transport it further through GAIL's pipeline systems to demand centres.

The Mo U envisages to explore prospects in import and handling of different hydrocarbons which are important chemical and petrochemical precursors, LNG for road transport, regasification of imported LNG, renewables, etc.

Shares of GAIL (India) Limited was last trading in BSE at Rs. 110.20 as compared to the previous close of Rs. 109.60. The total number of shares traded during the day was 822282 in over 5809 trades.

The stock hit an intraday high of Rs. 111.70 and intraday low of 109.45. The net turnover during the day was Rs. 90855630.00.

Source : Equity Bulls

Keywords

GAILIndia INE129A01019 MoU ShellEnergyIndia EnergyValueChain