Indian Economy News

GAIL to invest in startups operating in focus areas including natural gas, energy

GAIL (India) Ltd, plans to invest in startups operating in identified focused areas like natural gas, petrochemicals, energy, and electric mobility in an effort to support them. This initiative is called "Pankh," and is created to support startups.

The startups interested in equity investment from GAIL can apply through GAIL’s website. The current solicitation round will remain open till July 31, 2022.

GAIL plans to enter into distributed LNG production with the vision to cater to the demand from off-grid locations and the transport sector. The company has already placed order for two small-scale liquefaction skids capable of producing LNG on a pilot basis.

These plants will help in distribution of natural gas through liquefaction in new CGD (City Gas Distribution) areas, liquefaction of gas at isolated fields, and will support setting-up of LNG fuelling stations and in bunkering.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.