RIL - GSPL Sign Pact To Transport Natural Gas

Reliance Industries Ltd (RIL) has informed that the Company and Gujarat State Petronet Ltd (GSPL) on March 31, 2007 signed a Gas Transportation Agreement to transport 11 MSMCMD of natural gas from Bhadbhut in Bharuch to the Companys Refinery and Petrochemical complex in Jamnagar.Under this Agreement, the Company has an option to increase the volumes of gas upto 14 MSCMD. The Company would transport portion of its KG Gas from Kakinada through its East West Pipeline and deliver the same to GSPL at Bharuch. For transportation of gas, GSPL would use its existing pipeline and develop new pipelines between Bharuch to Hadala and Rajkot to Jamnagar.The transportation of gas shall commence in Second Quarter of 2008. The agreement is valid for a period of 15 years from the Start Date.Similarly, Gujarat State Petroleum Corporation has signed Gas Transportation Agreement with Reliance Gas Transmission and Infrastructure Ltd for transportation of 3.5 MSMCMD of natural gas from its largest KG Basin discovery at Kakinada in Andhra Pradesh to Gujarat. As per this agreement, GSPC has an option to increase the volumes of gas upto 11 MSCMD.For transportation of gas from Kakinada to Gujarat, RGTIL is developing a pipeline between Kakinada and Bharuch.The transportation of gas shall commence as soon as GSPC starts the production of gas from its KG basin. The agreement is valid for a period of 15 years from the Start Date.PMS Prasad, President & CEO, Petroleum Business, of the Company signed the agreements with the Managing Director of GSPC, D J, Pandian, IAS, in the presence of Saurabhbhai Patel, Honorable Minister of Energy & Petrochemicals and D Rajgopalan, IAS, Chairman, GSPC.