GAIL, ONGC ink Swap agreement and Gas Co-operation agreement

GAIL and ONGC inked Swap Agreement and Gas Co-operation Agreement.

As per the Gas Co-operation Agreement:

• ONGC can sale and purchase the gas from GAIL for 3 years
• Both the companies can supply or sale LNG by GAIL to ONGC for the reduction of C2+ Extraction at Dahej.
• C2+ components will be supplied to ONGC Petro additions Limited (OPAL) for producing the petrochemicals at Dahej Special Economic Zone.

As per the Swap Agreement:

• ONGC would supply gas to customers through GAIL’s infrastructure so as to boost the availability and the efficient exploitation of resources.

Month: Current Affairs - August, 2012