State-owned natural gas producer Oil and Natural Gas Corporation Limited (ONGC) has signed a fresh five-year agreement with Gas Authority of India Limited (GAIL India) for sale of 90% of its produced gas at domestic prices within the country, the former informed through a Twitter post. Prior to this, ONGC had signed a long-term agreement with GAIL India for sale of natural gas in July 2007.
However, the near-term outlook is uncertain as trade partners remained unsure, due to the monsoon’s arrival in the state, which may affect finished steel sales.
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