Gujarat Gas Eyes Chennai Market In Ninth Round Of City Gas Auctions
Gujarat Gas will bid in lucrative areas as far as Chennai in the ninth gas distribution auction.
Gujarat Gas Ltd., India's third-largest company engaged in processing, transmission and distribution of natural gas, will bid aggressively in the ninth round of city gas auctions.
The company’s focus will be on Gujarat where it has 20,000 kilometre pipeline laid, Chief Executive Officer Nitin Patil told BloombergQuint in an interview, adding that it will also target lucrative areas as far as Chennai. The auction is conducted by the Petroleum and Natural Gas Regulatory Board to distribute natural gas in more urban areas.
Going ahead, the company expects spot liquified natural gas prices to remain low for the next four-five years. It is also targeting a volume growth of around 10 percent in financial year 2018, added Patil.
Watch the full interview here.