Committed to energy security of developing India, ONGC signed a new Gas Sale and Transportation Agreement (GSTA) with GAIL on 2 July 2021. Around 90 per cent of ONGC’s total gas production from domestic fields is being sold to GAIL at domestic gas price. The new GSTA came into effect from 7 July 2021 for a period of five years. This comes as the Gas Supply Agreement (GSA) signed on 7 July 2006, under which APM and Non-APM gas from nominated fields of ONGC was being supplied to GAIL, expired on 6 July 2021. The renewal of the agreement will further strengthen the relations between the two organizations in energy business.
Director (Onshore) and Director In-charge Marketing Anurag Sharma graced the occasion and congratulated teams from both the companies. He appreciated that the agreement has been renewed prior to the expiry of existing GSA. Mr Sharma underlined that this GSTA is a win-win proposition and will pave a new way for cooperation in the gas business for both the organizations.
Exchange of the signed agreement between ONGC and GAIL
GAIL Director (Marketing) ES Ranganathan joined the occasion through virtual conference and congratulated both the teams for successful completion of the agreement. He also thanked ONGC Director-In-charge Marketing for his guidance for early conclusion of the GSTA.
Speaking during the event, ED - Chief Marketing Sanjay Kumar lauded the efforts put up by teams of both the companies and brought out that the agreement is updated with new provisions to safeguard the interest of both the parties. Teams of both ONGC and GAIL had worked together for the renewal of this agreement during the past one year.
Achieving the landmark was made possible by the teamwork of Corporate Marketing, Corporate Commercial and Corporate Legal. The GSTA was signed by ONGC ED - Chief Marketing and GAIL ED (Marketing - NG & RLNG) at ONGC’s Deendayal Urja Bhawan in New Delhi.
GGM - Chief Commercial Atul Kumar Chaturvedi, GM (P) - Head Marketing Gas Manoj Pahwa and other senior officers of ONGC and GAIL were also present during the GSTA signing.
Visuals from the signing of GSTA
The new GSTA brings cheers to both the parties as the execution of this GSTA is the culmination of one year of discussion and negotiations at different levels between the two companies. From ONGC, a team comprising of GM (P) - Head Marketing Gas Manoj Pahwa, GM (Legal) – In-charge Legal Sandhya Yadav, GM (Mktg) – In-charge Gas Marketing IH Zuberi, GM – In-charge Commercial Navin Bansal, DGM (F&A) Payal Bhamri, DCLA Vishishta Saumya, Manager (Mktg) Shrish Singh, Manager (F&A) Amit Lugun, Manager (Mktg) Sandeep Sahu put up tremendous efforts with the guidance of Chief Marketing and Chief Commercial under the leadership of Director (Onshore) and Director In-charge Marketing Anurag Sharma.