Gujarat Gas Company Ltd Merged Company Summary

Gujarat Gas Company Ltd Merged Summary

Gujarat Gas Company Ltd is Indias largest private sector player in the natural gas transmission and distribution business. The company operates as the main distributor of natural gas in the Industrial, commercial, domestic and automobile (CNG) segments. The company supplies gas to more than 230000 domestic, commercial, industrial customers and serve over 80000 compressed natural gas users. Their pipeline network spread over 2700 Kms. The corporate office is in Ahmedabad and their area of operation is spread across various districts of Gujarat, including Surat, Bharuch and Valsad.Gujarat Gas Company Ltd was formed in January 1980 as Gujarat Amino Chem Ltd. In June 1988, the company signed a joint venture agreement with Mafatlal Group for the purchase and distribution of natural gas to the industrial, commercial and domestic consumers in Gujarat. In September 1989, the company began their operations in the industrial hotspots of Ankleshwar and Bharuch in South Gujarat and in April 1990, they expanded their operations to Surat, the diamond and textile powerhouse of India. In February 1992, the company started CNG operations. The first CNG station of India was set up in Surat. In April 1994, the company set up Gujarat Gas Financial Services Ltd to provide various financial services to the customers of Gujarat Gas Company Ltd, including Natural Gas connection finance for domestic customers. In September 1997, the company was acquired by BG Group and thus they became a subsidiary of BG Group. In January 2001, they started transmission business.In November 2001, the company acquired 100% shares of K K Chemicals and Dyes Private Ltd, a dormant trading firm for a total consideration of Rs 7 lakh. In September 2003, the company signed an agreement with Garden Silk Mills Limited, Surat in South Gujarat for supply of 1.66 lakh standard cubic meters of gas per day. In October 2004, the company commissioned two new CNG stations and in December 2004, they signed a Right of Use Agreement with Gujarat Industrial Development Corporation (GIDC) to set up Gas Distribution Network at Vapi.In April 2005, the company with their joint venture partner Panna, Mukta & Tapti agreed for sourcing 7 lakh standard cubic meters of gas per day, for a period of three years. In December 2005, the company signed an agreement with a customer in Hazira for supply of 3.50 Lac standard cubic meters per day of gas for a period of 1 year.In March 2006, the company signed an agreement with a customer in Dahej for supply of upto 1.7 lakh standard cubic meters per day of gas for a period of 5 years. In June 2006, the company entered in a Business Transfer Agreement with BG India Energy Services Pvt Ltd for acquisition of BG Exploration and Production India Ltd business of Cogeneration of Power by way of a transfer of assets and liabilities on a slump sale basis. In September 2006, the company entered into a long-term Gas Sales Contract with BG Exploration and Production India Ltd (BGEPIL) for the supply of 1.65 million standard cubic meters of gas per day by BGEPIL to the company.In December 2006, the company entered into a gas sales contract with the Panna, Mukta and Tapti joint venture for the purchase of 0.7 million standard cubic meters of gas per day on a firm basis. In January 2007, the company entered an agreement with a customer in Hazira for the sale of 3.50 lakh standard cubic meters of gas per day for a short term period.