GAIL signs annual MoU for performance targets

Mumbai, Mar 25 (UNI) Gail India has signed the annual Memorandum of Understanding (MoU) for performance targets for the financial year 2008-09.

The MoU was signed by Ministry of Petroleum and Natural Gas Secretary M S Srinivasan and GAIL Chairman and Managing Director Dr U D Choubey. Senior government officials and Directors of GAIL were also present on the occasion, a release said.

During 2008-09, the Company has targeted for gas transmission of around 81.5 MMSCMD of natural gas from domestic sources and through LNG route. It includes the gas marketing target of around 70 MMSCMD.

The MoU also provides for a production target of 390 TMT of Polymers (HDPE and LLDPE) and 1,260 TMT of Liquid Hydrocarbons.

The Company's performance will be assessed on key financial parameters and also on dynamic and sector/enterprise-specific parameters such as gas sourcing, E&P and CBM, city gas projects, pipeline projects implementation, business development and globalisation, safety, customer focus and quality management.

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