Gujarat Gas and GSPC ink long term gas supply deal

Gujarat Gas Company Limited (GGCL) and Gujarat State Petroleum Corporation Limited (GSPC) have entered into a Memorandum of Understanding (MoU) for a long-term gas supply deal. As per the MoU, GSPC has agreed to supply 0.85 mmscm of gas per day to GGCL from January 1st 2014 to June 30th 2025.
The MoU was signed by GSPC’s Managing Director, Tapan Ray, and GGCL’s Managing Director, Sugata Sircar, at Gandhinagar on September 3rd. The MoU is effective till the December 31st or the signing of the relevant gas sales contracts (GSC), whichever is earlier. Price of gas will be determined in the relevant GSCs and it is expected to be formula-based.

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