Gas price hike will be positive in long run: Gail India CMD

Jun 28, 2013, 10.54 AM IST
Post the gas price hike, GAIL will invest significant capex in exploration activities as the price revision will boost its earnings.

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Gas price hike will be positive in long run: Gail India CMD
Post the gas price hike, GAIL will invest significant capex in exploration activities as the price revision will boost its earnings.

Like this story, share it with millions of investors on M3

Gas price hike will be positive in long run: Gail India CMD
Post the gas price hike, GAIL will invest significant capex in exploration activities as the price revision will boost its earnings.

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The latest gas price hike has certainly raised hopes of gas exploration companies like GAIL which can now sell gas at over USD 8/million metric British units, from the current over USD 4/mmBtu.In an interview to CNBC-TV18, BC Tripathi, chairman and managing director, GAIL said, "Expect gas price hike to be positive in long term," The state-owned upstream firm is also hopeful of investing significantly in exploration activities as the price revision will boost its earnings.
Read This: How gas price hike may impact RIL, ONGC, GAIL, OIL earnings

The firm has upped its FY14 capex by around 12 percent to Rs of Rs 7,511.50 crore year-on-year. The expenditure will include over Rs 4,300 crore for gas transmission and marketing business and another over Rs 300 crore on its petrochemical expansion.
Tripathi further said that the firm's transmission volumes will escalate as capex picks up.

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