State-owned gas distribution major Gujarat Gas Co Ltd (GGCL) has executed a long-term gas supply contract with its parent Gujarat State Petroleum Corporation (GSPC) for the purchase of 0.65 mmscmd for next 12 years. Under the agreement, GSPC will supply imported re-gasified liquefied natural gas (R-LNG) to GGCL from 1 January 2014 up to 1 July 2025. The move is seen as a major relief for GGCL, as it will get assured gas supply for a long period. GGCL´s dependence on spot LNG will reduce, as the supply pact is expected to help it meet nearly 50 per cent of its total R-LNG requirement of around 1.3 mmscmd.
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