IndianOil to retail CNG in West Bengal
New Delhi   01-Nov-2007
IndianOil has signed an agreement with Great Eastern Energy Corporation Ltd. (GEECL) for supply and retailing of CNG through IndianOil Petrol Stations in Asansol, Durgapur, Raniganj and other nearby cities of West Bengal. CNG is being marketed from select IndianOil Petrol Stations in Mumbai, Delhi, Ahmedabad, Gandhinagar, Vadodara and Lucknow through an agreement with various companies like MGL, IGL, GAEL, GSPC, GGL etc. who supply CNG As on date, CNG is available at 64 IndianOil outlets. The present agreement of IndianOil and GEECL includes for establishing a city gas distribution network in West Bengal based on Coal Bed Methane (CBM) from GEECUs CBM blocks. To begin with it is proposed to retail CNG of GEECL through 5 Petrol Stations of IndianOil. As per executive director (retail sales), IndianOil, AM K Sinha, there has been a marked shift from the use of conventional fossil fuels to new and renewable sources of energy that are cleaner, safer. Because of the widening gap between supply and demand, it has become imperative to diversify energy sources and explore alternative ways to meet the country's energy need and sustain economic growth.' He added that, growing environmental concerns also pose a serious challenge for energy companies, underlying the urgency to usher in cleaner and sustainable energy resources. In the natural gas business, IndianOil is targeting a sale of 2 million tonne, in 2007-08, up from 1.63 million tonnes in 2006-2007. An LNG import terminal and city gas distribution projects are also in the pipeline in partnership with GAIL (India) and Great Eastern Energy Corporation Ltd.