MUMBAI (Commodity Online): Natural gas company, GAIL (India) Limited (BOM:532155) has signed a Memorandum of Understanding (MoU) with the union ministry of petroleum and natural gas for transmitting 114.8 MMSCMD of natural gas from domestic sources and through LNG route in fiscal 2010-11.

The company stocks reeled lower at the opening trades on the Bombay Stock Exchange (BSE). The stock price fell into red after positive opening. The stock traded at Rs.419.35 marginally down by 0.17% from its previous close.

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During the FY 2010-11, to achieve the Excellence in performance, the Company has targeted the Gas Marketing of around 87 MMSCMD. The MoU also provides for an ‘Excellent’ production target of 420 TMT of Polymers (HDPE & LLDPE) and 1,288 TMT of Liquid Hydrocarbons.

The Company’s performance will be assessed on key financial parameters and also dynamic and sector / enterprise-specific parameters such as Gas Sourcing, E&P and CBM, City Gas Projects, Pipeline Projects Implementation, Safety, Customer Focus, Quality Management etc. and parameters to assess Corporate Social Responsibility (CSR).

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