Research And Views Archives

Zonal tariff: Blockage in the gas pipeline?
(Sector Info)

Apr 19, 2011

Zonal tariff system is at odds with equitable economic growth and can be a huge roadblock to CGD projects.

Indian gas sector: Running out of options
(Sector Info)

Apr 1, 2011

We have already missed lot of opportunities in the Indian gas sector. It won't be long before it runs out of steam for the lack of proper policies.

Gas energy: Time for Govt. to wake up
(Company Info)

Mar 16, 2011

As access to energy sources is crucial to attain the target GDP growth, it is time for India to come up with right polices and strategic decisions that improve access to domestic gas reserves

GAIL: What determines its tariffs?
(Company Info)

Aug 13, 2008

We have mentioned in our recommendation on GAIL that while we expect incremental volumes to flow through the company’s natural gas pipelines, we are concerned about the situation regarding the tariffs that the company is allowed to levy. In this article, we shall clarify how pipeline tariff is determined.

GAIL: Volumes in line
(Sector Info)

Nov 28, 2007

Panna-Mukta-Tapti (PMT) rights GAIL has recently bagged the rights to market 17 million standard cubic meters per day (MMSCMD) of natural gas produced from the PMT fields. It may be noted that GAIL currently delivers about 5 MMSCMD from the PMT fields.

GAIL: A brief overview...
(Company Info)

Mar 14, 2007

With increased supplies from the private sector players, the Indian gas market is likely to see heightened activity over the next 4-5 years. Recent discoveries by Reliance, Gujarat State Petroleum Corporation (GSPC) and ONGC augur well for mid-stream companies such as GAIL, which is engaged in the transmission and distribution of natural gas in the country. With this background in mind, over the next few weeks, we will try to provide an exhaustive overview of the business operations of GAIL, wit

Gujarat Gas: Analysis of business model
(Company Info)

Sep 14, 2006

India is a developing economy and its growth hinges upon the adequate availability of energy resources in the country. Natural gas is thus going to play a pivotal role in the economic development of the country. Also, the demand for natural gas has outstripped supply owing to it being environment friendly fuel in addition to it being cheaper fuel (compared to other fuels in terms of calorific value). One of the key players in this segment is Gujarat Gas. In this write up, we analyse the business

Indraprastha Gas: In the reckoning…
(Company Info)

Jan 13, 2005

Indraprastha Gas, a joint venture between GAIL and BPCL, formed to cater to the natural gas requirements in the National Capital Territory (NCT) of Delhi, has been a major gainer over the last one month. What’s more, an intra-sector comparison shows that the companies actively present in the business of natural gas have outshone other oil companies, including the PSU behemoths like IOC, HPCL and BPCL (see table below).

Gujarat Gas: Subdued performance…
(Company Info)

Dec 2, 2004

Gujarat Gas, the country’s largest private sector gas distribution company posted lackluster performance during 3QFY05 with a topline growth of nearly 5% and the bottomline witnessing a growth of only 3%. However, the company improved its operating margins by 250 basis points.

Gujarat Gas: Why this premium?
(Company Info)

Oct 18, 2004

Natural gas is fast becoming a major source of energy, given the fact that alternative fuels such as oil are resulting in higher costs for the industry. Growing dependence on oil imports again tilts the balance in natural gas’ favour, as it is a relatively cheaper source as against oil.

Natural Gas: GAIL or Gujarat Gas???
(Sector Info)

Mar 29, 2004

Natural gas is slowly but steadily proving to be the fuel for the future and this shall prove to be a boon for gas transmission and distribution companies such as GAIL and Gujarat Gas, largely based on the volumes of natural gas consumption. Further, upstream companies such as ONGC and Oil India are also likely to benefit from the deregulation.

Energy: A paradigm shift?
(Company Info)

Feb 13, 2004

Amongst the slew of public issues likely to hit the market in these last two months of FY04, ONGC and GAIL are undoubtedly the biggest. Further, post the successful listing of Indraprastha Gas (IGL) (108% since listing) on the bourses, Petronet LNG is also slated to hit the markets next week. Against this backdrop, we take a look at the energy sector, natural gas in particular, and its prospects going forward.