GAIL (India) Limited has signed a Memorandum of Understanding (MoU) with Shell Energy India Private Limited to explore opportunities in different facets of the energy value chain, the company announced through an exchange filing. For GAIL, this is a step towards achieving improved sustenance in business operations.
In a bid towards diversification of the feedstock for its petrochemical plant, GAIL is looking to import ethane from ethane-surplus countries with matured export terminal infrastructure through water borne transportation to India and transport it further through GAIL's pipeline systems to demand centres.
The Mo U envisages to explore prospects in import and handling of different hydrocarbons which are important chemical and petrochemical precursors, LNG for road transport, regasification of imported LNG, renewables, etc.
GAIL shares
The shares of GAIL on Friday closed at Rs 110.10, up by 0.50 per cent.
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