GAIL up on Myanmar CNG supply buzz

DALAL STREET SPIKES

GAIL scrips went up 4.85 cent to Rs 304.90 after the company announced that it had got a positive response from eight national and international firms for transportation of CNG from its production block in Myanmar.

Gail India has announced that eight national and international firms have responded to the company's invitation for the expression of interest (EOI) for transportation of CNG from the A1 block of Myanmar.

The company claimed that CNG marine transportation has an inherent advantage over LNG shipping for transporting medium volume of gas up to a distance of 1500 km as it does not require capital intensive investment towards liquefaction plant at source and degasification plant at delivery points.