Page 13 - AsianOil Week 06 2021

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SOUTH ASIA against Rs. 1,550 crore in Q2 FY21. The Profit of low-carbon energy initiatives, covering
after Tax (PAT) increased by 20% to Rs. 1,487 Liquefied Natural Gas (LNG), ammonia and
GAIL acquires 5% stake in crore in Q3 vis a vis Rs. 1,240 crore in Q2 hydrogen, in enriching lives for a sustainable
future.
FY21.
Indian Gas Exchange performance of the company improved and JERA is a result of both companies’
Both physical as well as financial
The signing of the MoU between Petronas
GAIL (India) Limited has signed a Share further across all major segments in Q3 shared vision of achieving net zero carbon
Purchase and Shareholders Agreement as compared to Q2 FY21. The Physical emissions. In November 2020, Petronas
(SPSHA) with IGX and Indian Energy Performance improved by 4% in Natural Gas announced its aspiration to achieve ‘Net Zero
Exchange Limited (IEX), the promoter and Transmission, 8% in Gas Marketing, 3% in Carbon Emissions by 2050” as part of its
parent company of IGX for acquisition of 5% LPG Transmission, 3% in Petrochemical Sales holistic approach to sustainability and to grow
equity stake in Indian Gas Exchange Limited and 8% in Liquid Hydrocarbon Sales. the business in ways that contribute positively
(IGX). GAIL’s Petrochemical performance to society and the environment.
IGX, India’s first automated delivery- improved further in Q3, and the plant Pursuant to the MoU, PETRONAS and
based gas trading platform, was launched by is operating at more than 100% capacity JERA will intensify collaboration in the supply
Hon’ble Sh. Dharmendra Pradhan, Minster of utilization. On account of better physical chains for ammonia and hydrogen fuels while
Petroleum and Natural Gas in June 2020 after performance and price realization, the continuing to advocate for the use of LNG.
which PNGRB notified the Petroleum and profitability of the segment has increased to This builds upon PETRONAS’ position as
Natural Gas Regulatory Board (Gas Exchange) Rs. 423 crore in Q3 as against Rs. 170 crore one of the world’s largest LNG producers,
Regulations, 2020. IGX has secured the during Q2 FY21. experience as a reliable producer of ammonia
necessary authorization to operate as a Gas For the nine month ending December 31, as well as the establishment of the Company’s
Exchange under the Regulations for a period 2020, GAIL recorded turnover of Rs. 41,057 hydrogen business in November 2020.
of 25 years. GAIL is already a member of IGX crore as against Rs. 54,021 crore upto Q3 In the LNG space, PETRONAS and JERA
and has now also joined as a shareholder. FY20. PAT upto Q3FY21 stood at Rs. 2,983 will be collaborating to grow the use of
In order to increase the share of natural crore as against Rs. 3,602 crore upto Q3 FY 20. natural gas as a cleaner marine fuel through
gas in primary energy mix of the country, During the quarter, the group’s LNG bunkering solutions, in support of
Government of India is promoting Gas consolidated turnover stood at Rs. 15,606 International Maritime Organization (IMO)
Trading Exchanges where natural gas can be crore as against Rs. 13,774 crore in Q2 FY21 regulations on greenhouse gas emissions.
supplied / traded through an efficient market- while the group’s PAT stood at Rs. 1,897 crore Through the MoU, PETRONAS and JERA
based mechanism. It is expected that this as against Rs. 1,068 crore in Q2 FY21. will explore the establishment of a global
partnership will play a role in achieving the GAIL (INDIA), February 10, 2021 bunkering supply network, leveraging on both
Government of India’s vision for increasing companies’ experience in LNG bunkering.
the share of natural gas from 6 percent to 15 PETRONAS, February 9, 2021
percent. SOUTHEAST ASIA
GAIL (INDIA), February 10, 2021 OCEANIA
GAIL PAT jumps 20% Petronas, JERA sign low-

GAIL (India) Limited recorded 13% increase carbon energy deal Strike updates on West
in Turnover to Rs. 15,386 crore vis-a-vis Rs. Petronas has entered into a Memorandum of Erregulla
13,611 crore in Q2 FY21. Profit before Tax Understanding (MoU) with JERA that will see
(PBT) increased by 20% to Rs. 1,868 crore as both companies collaborate on a wide range Strike Energy provides an update on the
drilling operations at WE4 behalf of the
EP469 Joint Venture.
Since the last update, Strike has
successfully completed drilling the surface
hole to a chosen casing point at 1,003m
and has landed and cemented in place the
20” surface casing. Strike has subsequently
conducted routine pressure testing of the
BOP and has started preparing to run in hole
to start drilling the first intermediate 17-1/2”
section.
As personnel movement restrictions
around the State have been eased in
accordance with the reduction of the Western
Australian COVID-19 lockdown measures,
normal drilling operations and logistics have
recommenced.
Strike will commence drilling the first
intermediate 17-1/2” hole section down to a
nominal depth of 2,550m.
STRIKE ENERGY, February 9, 2021

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