GAIL (India) Ltd has set a target of marketing 84.05 million standard cubic metres a day (mscmd) and transmitting 110 mscmd of natural gas from domestic sources and through LNG route during FY 2013-14.
The company has set this target under the annual memorandum of understanding signed with the Ministry of Petroleum & Natural Gas for performance targets here.
According to a statement issued by GAIL, the financial targets are pegged at Rs 49,155 crore gross sales and a gross margin of Rs 6,160 crore.
The MoU also provides for a high or ‘excellent’ production target of polymers (HDPE & LLDPE) and liquid hydrocarbons.
In addition to key physical and financial parameters, the company’s performance will be assessed on the basis of various parameters related to core business streams out of which 32 per cent is allocated to key parameters related to implementation of pipeline, petrochemicals, city gas projects, capital expenditure, marketing, E&P, M&A, safety.
Assessment is also based on corporate governance, research & development, human resource management (5 per cent), Corporate Social Responsibility and sustainable development (8 per cent) in line with the latest guidelines issued by the Department of Public Enterprises.
The MoU was signed between Vivek Rae, Secretary, Ministry of Petroleum & Natural Gas and B.C. Tripathi, Chairman and Managing Director, GAIL.