Gujarat Gas

Gujarat Gas Company Limited
Public
Traded as BSE: 523477
NSE: GUJRATGAS
Industry Oil and gas
Predecessor Gujarat Gas Company Limited (GGCL)
GSPC Gas
GSPC Distribution Network Ltd.
Founded 1980 (1980)
Founder Government of Gujarat
Headquarters Ahmedabad, India
Area served
 India
Key people
 Hasmukh Shah, Chairman
Products Natural gas
Revenue ₹18.67 billion (US$290 million) (2011)[1]
₹2.57 billion (US$40 million) (2011)
Parent Gujarat State Petroleum Corporation
Website www.gujaratgas.com

Gujarat Gas Limited,[2] is an Indian natural gas distribution company. Gujarat State Petroleum Corporation owns the company. Established in 1980, and headquartered in Ahmedabad,[3] the company operates primarily in Gujarat. It is India's largest City Gas Distribution (CGD) company.[2]

History

Gujarat Gas Company Limited (GGCL) was incorporated in 1980, and is in the business of procurement and distribution of natural gas. The company went public in October 1991, listing on the Bombay Stock Exchange and the National Stock Exchange. The BG Group acquired a majority stake in the company in 1997.[4] In 2010, it operated over 3,700 kilometres (2,300 mi) of gas pipelines.[5]

In October 2012, the majority owner in the firm, BG Group, sold its 65% stake for a fee of around $470 million. The buyer was GSPC Gas, a unit of the state-run Gujarat State Petroleum Corporation (GSPC).[6] GSPC Gas and GGCL were merged in 2015 and the new company was named Gujarat Gas Limited.[2]

Opearation

As of May 2015, Gujarat Gas Limited has City Gas Distribution (CGD) network in 649 human settlements (city, town, villages) in 19 districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Thane GA (including Palghar district) of Maharashtra.[2]

As of 2017, it has the largest customer base in gas distribution sector in India: 10,80,000 domestic households, 2,835 industrial customers, 11,900 commercial and non-commercial customers, 233 CNG stations selling more than 7,65,000 kg of CNG per day serving to more than 1,60,000 vehicles per day. It has achieved the highest total daily gas sales volume in India, up to 6.5 MMSCMD.  It market captalisation was Rs. 10,600 crore (15 May 2015).[2][7]

References

  1. ↑ "31st Annual Report" (PDF). Gujarat Gas Company Limited. Retrieved 2011-10-07.
  2. 1 2 3 4 5 indiainfoline.com. "Gujarat Gas, GSPC Gas amalgamation process is complete". Retrieved 2017-06-24.
  3. ↑ "Company Facts - Gujarat Gas". CNBC TV18 Money Control. Retrieved 2011-10-07.
  4. ↑ "GGCL History". Gujarat Gas Company Limited. Retrieved 2011-10-07.
  5. ↑ "About Us". Gujarat Gas Company Limited. Retrieved 2011-10-07.
  6. ↑ Reuters (3 October 2012). "BG offloads Gujarat Gas stake for $470 mln". Reuters.
  7. ↑ "From CEO's Desk | About Us". www.gujaratgas.com. Retrieved 2017-06-24.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.