its massive import bill and reduce its carbon footprint.
In a written statement to shareholders, B.C. Tripathi said GAIL has also booked 1.5 million tonnes a year regassification capacity at Dhamra LNG terminal in eastern Odisha state. The company's current annual gas marketing portfolio comprises 14 million tonnes, he added.
GAIL is the largest state-owned natural gas processing and distribution company in India, based in New Delhi. It has the following business segments: natural gas, liquid hydrocarbon, Liquefied petroleum gas transmission, petrochemical, city gas distribution, exploration and production, GAILTEL and electricity generation. GAIL (India) Ltd was incorporated in August 1984 as a Central PSU under the Ministry of Petroleum & Natural Gas. The PSU was initially given the responsibility of construction, operation & maintenance of the Hazira – Vijaypur – Jagdishpur (HVJ) pipeline Project. It was one of the largest cross-country natural gas pipeline projects in the world. Originally this 1800 Km long pipeline was built at a cost of Rs 1700 Crores and it laid the foundation for development of market for natural Gas in India.
As a strategy of going global and further expanding global footprint, GAIL has formed a wholly-owned subsidiary company, GAIL Global (Singapore) Pte Ltd. in Singapore for pursuing overseas business opportunities including LNG & petrochemical trading. In US, GAIL has 20 percent working interest with Carrizo Oil & Gas Inc. in the Eagle Ford shale acreage, Texas through a wholly owned subsidiary GAIL Global (USA) Inc. GAIL is also an equity partner in two retail gas companies of Egypt, namely Fayum Gas Company (FGC) and National Gas Company (Natgas). Besides, GAIL is an equity partner in a retail gas company involved in city gas and CNG business in China.