IndianOil to sell GEE CBM
Kolkata   31-Oct-2007
Great Eastern Energy Corporation Limited (GEECL), which had set up India's first commercial CBM (coal bed methane) station, signed an agreement with IndianOil for supply and retailing of CNG (compressed natural gas) through IndianOil outlets in Asansol, Durgapur, Raniganj and other neighboring towns in West Bengal. The agreement was signed in New Delhi today by Prashant Modi, president and chief operating officer of GEECL, and A M K Sinha, executive director of retail sales for IndianOil. IndianOil signed the Moli with GEECL for establishing a city gas distribution network in West Bengal based on CBM from GEECLs CBM blocks. GEECL CNG would be retailed through five IndianOil petrol stations. "This is important for GEECL as we have taken a significant step forward towards making a difference to the energy sector in India especially in the eastern region", Prashant Modi, president and chief operating officer of GEECL, said. "We are confident that CBM will play an important role as one of the prime energy source for the future generations. Our company has made significant progress in the last few months and has achieved several milestones indcatirgour commitment towards the energy sector in India", he added. GEECL was part of YKM Holdings Group and listed on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE). It started commercial production of gas from its CBM block at Raniganj in West Bengal from July this year.