Search
LibraryLibrary

Petroleum Minister launches online portal for common carrier capacity booking

Aug 28, 2018 15:34 IST
    Petroleum Minister launches online portal for common carrier capacity booking
    Petroleum Minister launches online portal for common carrier capacity booking

    The Union Minister of Petroleum and Natural Gas, Dharmendra Pradhan on August 27, 2018 launched an online portal to enable easy, efficient and transparent booking of common carrier capacity for natural gas transmission services under GAIL’s pipelines.

    The portal will be the first step to facilitate gas trading on a hub or exchange-traded platform in India.

    Significance

    The online portal is the first-of-its-kind in the natural gas sector of the country. It will provide gas consumers the facility to register pipeline capacity bookings online.

    It aims to continue the practice of serving on first come-first served basis.

    Key Highlights

    The portal is a transparent, market-friendly component in the gas trading system.

    It will act as a milestone in the expansion of gas marketing, without human interface, through digital means.

    It will enable the new entities to utilise GAIL’s infrastructure in procuring the gas in a cost-effective manner.

    Thus, it will help GAIL raise the standards of consumer experience for third-party access to natural gas pipelines to consumers in India.

    Background

    The policy reforms in the last 4 years have helped in increasing the production and import of gas multi-fold in the country.

    There has been an increased focus on clean fuel and for the same gas import contracts have been renegotiated, bio-CNG is being promoted and PNG supplies are expected to soon reach new geographical areas.

    Gas is a price sensitive commodity and hence, it is essential that its marketing is done in a transparent manner.

    GAIL has been providing third party access to pipelines since 2004 and over 100 consumers, small and big, are routinely being serviced for the last few years.

     

    Video: Check out the latest current affairs of this week

    Read More Current Affairs

    Is this article important for exams ? Yes

    DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

    Newsletter Signup

    Copyright 2018 Jagran Prakashan Limited.
    This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK