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GAIL wins 'the Innovation Award - India' and 'Midstream Project of the Year Awards - India' at the Asian Oil and Gas Awards

Posted On : 2023-11-17 21:44:35( TIMEZONE : IST )

GAIL wins 'the Innovation Award - India' and 'Midstream Project of the Year Awards - India' at the Asian Oil and Gas Awards

GAIL, India's Natural Gas leader and a Public Sector undertaking gets two prestigious awards at the Asian Oil and Gas Awards event held at Kulalumpur, Malaysia. The coveted "the Innovation Award- India" was given to GAIL for reduction in LNG Shipping cost & emissions through Ship-to-Ship (STS) transfer of LNG with backhauling. Another top notch award "Midstream Project of the Year- India" has been given for the installation of the first floating Compressed Natural Gas (CNG) station at Varanasi. The Award recognizes the most outstanding players in Asia's oil and gas sector.

GAIL charter hired LNG vessel AI Gharrafa from QatarGas in Gibraltar and transferred cargo from Castillo De Santisteban into AI Gharrafa through STS transfer. This. is the world's first STS between a large conventional LNG vessel and a Q-Flex LNG Vessel. QatarGas Vessel proceeded to Dahej to discharge the Cargo originally planned to be discharged by GAIL's Vessel and the vessel returned back from Gibraltar to the next loading port. This innovation has resulted in saving of approximately 8736 nautical miles, equivalent to approximately 7000 tonnes of C02 emission. Furthermore, this has resulted in shortening the voyage ofthe GAIL's chartered vessel from 54 days to approximately 27 days.

GAIL's floating CNG station on River Ganga at Namo Ghat, Varanasi is a first-of-its-kind initiative in the world to run boats on cleaner fuel-CNG in the river. GAIL has created a CNG dispe~sing infrastructure, which manages the response of the edifice against the variating water level. The project has led to gradual transitioning of motorized boats from polluting fuels to cleaner and affordable CNG.

Shares of GAIL (India) Limited was last trading in BSE at Rs. 126.20 as compared to the previous close of Rs. 126.30. The total number of shares traded during the day was 499868 in over 3577 trades.

The stock hit an intraday high of Rs. 127.20 and intraday low of 124.80. The net turnover during the day was Rs. 62940029.00.

Source : Equity Bulls


GAILIndia INE129A01019 Awards