GAIL (India) Ltd is looking at setting up gas-based power plants as well as wind and solar energy projects. The company is also evaluating US shale gas asset buys with Oil India. These opportunities are besides expanding its reach in the domestic natural gas pipeline network.The projects would enable the company to strengthen its position in the gas chain, including in gas infrastructure and processing, develop new streams of revenue, and supplement growth through inorganic means.“It is estimated that by 2015, India's gas demand will increase to over 320 mscmd. Meeting this demand requires large-scale investments and significant expansion in gas-based infrastructure.
“Keeping these opportunities in view, the company is taking several initiatives to strengthen its position in the gas sector and beyond,” Mr B.C. Tripathi, Chairman and Managing Director of GAIL, said.He said that “We are doing a feasibility study for the power project in Maharashtra.”
Wind energy project
Speaking at the company's AGM here on Wednesday, he said that GAIL is also in the process of commissioning a wind energy project in Gujarat.
“We plan to take up such projects on commercial basis. The company will be making a capital investment of around Rs 40,000 crore by 2014-15 in various projects,” he added.
Petrochem segment
In the petrochemicals segment, an additional gas cracking furnace is slated to be commissioned this year at its Pata Petrochemical Complex in Uttar Pradesh. The company is going to double capacity of the Pata plant to nine lakh-tonne an annum in the next three years at an estimated investment of Rs 8,140 crore.
GAIL has imported its first spot cargo of liquefied natural gas (LNG) in the current fiscal year this week and plans to buy more cargoes in November and December, he said.GAIL is exploring various opportunities in the African market for integrated hydrocarbons infrastructure such as gas pipeline and retail projects.
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