Financial Daily from THE HINDU group of publications
Sunday, Sep 28, 2003
Financial Daily from THE HINDU group of publications Sunday, Sep 28, 2003 |
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Industry & Economy
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Events GSPC set to sign MoUs worth Rs 1,800 crore Our Bureau
Ahmedabad , Sept. 27 THE Gujarat State Petroleum Corporation (GSPC) is expected to play a pivotal role during the three-day Global Investors' Summit (GIS) that begins here on Sunday as the State endeavours to declare that it is in for a makeover as a gas-based economy. Towards this end, GSPC would be signing three separate MoUs with an aggregate investment potential of Rs 1,800 crore during the summit. The first MoU would be with the Oil and Natural Gas Corporation Ltd (ONGC), in the exploration and development of coal bed methane (CBM), research and development of underground coal gasification (UCG), pipeline network for transportation of oil and gas and marketing of hydrocarbon and non-hydrocarbon gases produced from CBM and UCG. The other area of co-operation would be the undertaking of pipeline work for ONGC, wherein GSPC will carry out turnkey assignments for laying crude oil or gas pipeline. The second MoU would be signed with Steag Encotec GmbH to set up the Gujarat Energy Research and Management Institute (GERMI) in Ahmedabad. The plan is to shape GERMI as a world-class institution that would be developed into a global centre for energy studies and related activities, having linkages with German universities for collaborative post-graduate programmes in energy management. The third MoU would be with Hindustan Petroleum Corporation Ltd (HPCL) and this envisages the setting up of a compressed natural gas (CNG) filling station network throughout Gujarat through HPCL's existing dealer network. The MoU would also have room for future collaboration between GSPC and HPCL in exploration and development of oil and gas fields. The international seminar on the oil and gas sector would have experts from fields representing multi-national companies such as Shell, British Gas, Niko Resources and Cairn Energy. Mr Dimitris Tsitsiragos, Director, South and South East Asia Regions, International Finance Corporation, would talk of investment plans of the corporation in the country, particularly in the energy sector in Gujarat. Some of the panellists at the summit include, Dr Avinash Chandra, Director-General of Hydrocarbons, Mr Nigel Shaw, Country Manager, British Gas, Mr Marc Den Hartog, Director (Gas and Power), Shell, Mr Alan Linn, Country Manager-India, Cairn Energy India Ltd, and Mr Ed Sampson, Executive Chairman, Niko Resources Ltd. The brass of Indian PSUs who will be present include Mr Subir Raha, Chairman and Managing Director, ONGC, Mr Proshanto Banerjee, Chairman and Managing Director, GAIL India Ltd, Mr B.S. Shantaraju, Managing Director, Gujarat Gas Company Ltd, and Mr Suresh Mathur, Managing Director, Petronet LNG.
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