ONGC signs gas sales agreement with GAIL

ONGC on Friday signed a gas sales agreement with state utility GAIL India Ltd for sale of government-regulated natural gas.

By PTI | Jul 07, 2006, 11.00 AM IST

NEW DELHI: ONGC on Friday signed a gas sales agreement with state utility GAIL India Ltd for sale of government-regulated natural gas.

Under the agreement ONGC will sell 50 mscm, natural gas per day on take or pay agreement, Gail Chairman and Managing Director D P Banerjee said.

The GSA would be for 15 years and the price of gas will determined by the government gas pricing order.

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