GAIL approves pipeline projects worth $1.6 bn

October 7th, 2009 NEW DELHI - An underpass, which was submerged due to a burst water pipeline minutes after being inaugurated Tuesday in east Delhi, remained flooded a day later as workers tried to repair the damage and pump out water. The Vikas Marg underpass was meant to ease traffic congestion but the three-decade old rusting pipeline played the spoil-sport.

October 1st, 2009 NEW DELHI - GAIL India Thursday welcomed the petroleum ministry's proposal to allow it to charge marketing margin on sale of subsidised natural gas, saying it would help the company invest more in servicing bad debts and expanding markets. "We are very happy that the government is considering it," GAIL chairman B.C.

September 14th, 2009 THIRUVANANTHAPURAM - Kerala State Industrial Development Corp (KSIDC), the investment promotion agency of the state government, has tied up with Gas Authority of India Ltd (GAIL) for developing gas pipeline infrastructure. The partnership will lead to attracting investments to the tune of Rs.8,500 crore in the state, officials said.

September 3rd, 2009 Atlas Pipeline fills key postPHILADELPHIA — Atlas Pipeline Partners LP said Thursday that Eric Kalamaras will fill two key positions for the company. Kalamaras was appointed as chief financial officer for both Atlas Pipeline Partners GP LLC, the company's general partner, and Atlas Pipeline Holdings GP LLC, which is the general partner of Atlas Pipeline Holdings LP.

July 1st, 2009 NEW DELHI - The Government on Wednesday said it would award six shipping projects worth 3,319.14 crore rupees in next 100 days. These would be developed on the public-private-partnership (PPP) mode.

June 29th, 2009 MUMBAI - Leading engineering and construction company Larsen and Toubro Ltd (L&T) announced Monday that it has bagged six orders worth Rs.12.30 billion from electrical projects in the domestic market. L&T has been awarded four orders for transmission line and railway construction valued at Rs.10.31 billion, and two orders worth Rs.1.99 billion for the construction of sub-stations, the company said in a regulatory statement.

June 26th, 2009 NEW DELHI - State-run gas major GAIL India will invest Rs.7,500 crore ($1.5 billion) to develop two major pipelines in southern India, the company said Friday. Of this investment, Rs.4,500 crore would be spent on the 1,389-km Dabhol-Bangalore pipeline, which would have a capacity of 16 million standard cubic metres a day (mmscmd), a company statement said.

June 16th, 2009 TransCanada issues $1.41 billion common sharesNEW YORK — TransCanada Corp. says it will issue common shares worth 1.6 billion Canadian dollars ($1.41 billion) to help fund its acquisition of an oil pipeline.

June 15th, 2009 NEW DELHI - State-run gas major GAIL India Monday reported a net profit of Rs.2,804 crore ($585 million) for 2008-09 as against Rs.2,601 crore recorded the year before, an increase of 8 percent. In a regulatory statement, the company said its turnover during the period increased 32 percent to Rs.23,776 crore from Rs.18,008 crore in 2007-08.

June 8th, 2009 Finland wants more details of Baltic gas pipelineHELSINKI — Finland says it needs more details of the environmental effects of a Baltic Sea gas pipeline planned between Russia and Germany before it can approve its construction. The Environment Ministry says it wants information about how the pipeline would affect fishing, toxic chemicals and unexploded ammunition on the seabed and nature reserves in Finnish territory.

May 29th, 2009 NICOSIA - Iran and Pakistan on Thursday signed in Tehran a deal for the supply of eight billion cubic meters of natural gas annually under an agreed price formula which has not been disclosed. Representatives of the two countries also signed an initial agreement for the construction of the Iran-Pakistan-India (IPI) gas pipeline, which is expected to cost more than 7.5 billion dollars and has been dubbed "The Peace Pipeline." It is expected that gas deliveries will start in three to four years.

May 12th, 2009 AHMEDABAD - Gas marketing major Gail India is planning to establish a series of wind power projects in Gujarat during the current fiscal, a senior official said Tuesday. 'The company has invited bids for setting up wind power projects of 4.5 to 5 MW capacity each on a turn-key basis.

January 27th, 2009 MUMBAI - State-owned gas utility GAIL India Ltd Wednesday said its net profit declined 59.22 percent to Rs.2.53 billion (Rs.253 crore/$51.5 million) in the quarter ended Dec 31 from Rs.6.21 billion a year ago. However, the company's total Income rose to Rs.60.46 billion during the period under review from Rs.44.83 billion in the corresponding quarter last year.

January 21st, 2009 NEW DELHI - The Empowered Group of Ministers (EGOM) on gas utilisation from Reliance Industries' (RIL's) KG-D6 hydrocarbon block in the Krishna Godavari basin has decided that Reliance's own industries will be eligible for supply only after the needs of fertilizer units and power plants are met, the government said Thursday. In a statement, the ministry of petroleum and natural gas said the total production of gas will reach a 'plateau' of around 80 million metric standard cubic metre per day (mmscmd) by 2012, before it starts dwindling from 2017.

January 11th, 2009 NEW DELHI - A leading construction and infrastructure development company Monday signed deals worth $8.3 billion with the Gujarat government to develop a water front city and three pipeline projects in the state. The first memorandum of understanding (MoU) has been signed between the Hindustan Construction Company (HCC) and the Gujarat Infrastructure Development Board to develop a water front city at a total investment of $8 billion while the second MOU was signed with the water department of the state for developing three water pipeline projects worth $300 million.