NEW DELHI : The March-quarter performance of Gujarat State Petronet Ltd (GSPL) was subdued with declining gas sales volumes. A rise in spot gas prices in January and February weighed on gas volumes.
The company’s Q4 transmission volume at 33.84 mmscmd (million metric standard cubic metres per day) declined 8% year-on-year (y-o-y) and 14% sequentially.
January and February saw an unexpected spurt in spot prices of liquified natural gas (LNG) to $20-30/MMBtu. This impacted overall demand. Demand from the power sector was down 48% sequentially, analysts said. With that, the contribution of the power sector to overall volumes declined from 23% in Q3FY21 to 14% in Q4FY21.
