Gujarat Gas enters into Gas Sales Contract

Gujarat Gas Company Ltd has announced that the Board of Directors of the Company on December 14, 2006 has approved the company entering into a gas sales contract with the Panna, Mukta and Tapti Joint Venture (PMT JV*) for the purchase of 0.7 million standard cubic meters of gas per day on a firm basis.

This quantity of gas was being supplied by the PMT JV to the Company on an uncommitted spot basis and is now expected to continue on a firm committed basis till March 31, 2008.

*(The PMT JV is an unincorporated joint venture operating the Panna-Mukta and Tapti Oil & Gas Fields constituted by ONGC Ltd, Reliance Industries Ltd and BG Exploration and Production India Ltd)

Source : Equity Bulls

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