Country’s flagship gas marketing company, Gail (India), has increased its gas transmisson target by

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21 per cent for next financial year. At the same time, it is eyeing gas trading to the tune of 87 million metric standard cubic metres of gas per day (mmscmd) in 2010-11 as against 83.2 mmscmd in the current year.

“Gail (India) has set a target of transmitting 114.8 mmscmd of natural gas from domestic sources and through LNG route during 2010-11,” the company said on Wednesday. The government-owned company’s gas transmission target for the current financial year was 94.8 mmscmd. It transported 82.10 mmscmd in 2007-08, which increased to 83.29 mmscmd in 2008-09.

Additional gas availability in the country has increased scope for extra revenue generation. With gas supplies from fields such as KG Basin, Dabhol and increase in output from marginal fields besides import of LNG, Gail has found new avenues for growth.

The company is expected to earn over Rs 3,700 crore from gas transmission portfolio in 2010-11 as against Rs 3,100 crore in the current financial year, Angel Broking has projected.

Gail’s turnover from gas transmission in first half of the current financial year has increased by 32 per cent to Rs 1,443 crore. In the same period last year its turnover was Rs 1,093 crore. The gas transmission segment contributes nearly 12 per cent to the total turnover of the firm.

In addition, the company has targeted gas marketing of around 87 mmscmd in the new fiscal, up from 83.2 mmscmd in the present year.

Gail is expected to earn more than Rs 31,000 crore from gas trading in the next financial year, when compared with around Rs 25,000 crore in the current year.

Gail recorded a turnover of Rs 8,109 crore in first half of 2009 10 from gas trading. This is higher by 12 per cent when compared with Rs 7,267 crore in the same period previous year.

The company operates 7,200 km of gas pipelines transporting nearly 150 mmscmd of gas.