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Commodity Online

NEW DELHI: Gas Authority India Limited (GAIL) has signed an Annual Memorandum of Understanding (MoU) with the government with regard to its performance targets for the Financial Year 2008 09.

A Petroleum Ministry release said that the MoU was signed by M S Srinivasan, Secretary, Ministry of Petroleum Natural Gas on behalf of government and Dr U D Choubey, Chairman and Managing Director, GAIL on behalf of the company.

During the FY 2008 09, to achieve the Excellence in performance, the Company has been assigned a target for Gas Transmissi on of around 81.5 MMSCMD of natural gas from domestic sources and through LNG route, it said.

It includes the Gas Marketing target of around 70 MMSCMD. The MoU also provides for an Excellent production target of 390 TMT of Polymers (HDPE LLDPE) and 1,260 TMT of Liquid Hydrocarbons.

The Company s performance will be assessed on key financial parameters and also dynamic and sector / enterprise specific parameters such as Gas Sourcing, E P and CBM, City Gas Projects, Pipeline Projects Implementation, Business Development Globalization, Safety, Customer Focus, Quality Management etc, the release said