GEECL starts commercial sale of CBM

New Delhi, July 15: Great Eastern Energy Corporation (GEECL), a part of YKM Holdings Group, today said it has started making available Coal Bed Methane (CBM) for commercial sale in the country at Asansol.

GEECL, which already has 23 CBM wells in the Asansol-Burnpur block, has set an attractive price of Rs 30 per kg of CNG for Coal Bed Methane.

Initially 90 per cent of the CBM would be distributed among vehicles as CNG gas.

GEECL is also setting up the first CBM station in South East Asia and the same will be located in Asansol.

''The commercial exploitation of Coal Bed Methane will certainly help in meeting country's growing energy needs,'' Prime Minsiter Manmohan Singh said while inaugurating first coal bed methane (CBM)-based CNG gas station.

Company Chairman and Chief Executive Officer Y K Modi said ''Investment in coal and gas transportation infrastructure, including gas gathering, transportation and distribution are critical to move CBM from coal fields to local and more distant end-use markets.'' GEECL, which got listed on the Alternative Investment Market of London Stock Exchange in December 2005, has Rs 203 crore equity and would take Rs 350 crore debt from banks.

UNI