Gail India Ltd has announced the following Press Release:

“The Fifth Asia Gas Partnership Summit -2008 is scheduled to be held in New Delhi from April 14-15, 2008 at the Taj Palace Hotel. This was announced today by Dr.U D Choubey, Chairman & Managing Director (GAIL) and Dr. Amit Mitra, Secretary General, FICCI at a press conference at FICCI auditorium in New Delhi. The Asian gas meet is organized by FICCI and GAIL (India) Limited and supported by International Gas Union (IGU). Industry leaders from across the globe will be participating in the two-day conference.

The theme for the Fifth Asia Gas Partnership Summit is ?The Asian Gas Market and Energy Security?. The Conference, through its various Sessions, will attempt to understand major characteristics and address key issues related to Asian Gas Markets. Some of the sessions include Opportunities for Investment in Indian Gas Market, Security of Supply and Investment in Asian Gas Markets, LNG and Transnational Pipeline Trade and City Gas Distribution ? The next big market.

Speaking on the occasion Dr. Choubey, CMD GAIL said that ?there is a discernible shift in the pattern of consumption of hydrocarbons and natural gas; with the latter gaining importance due to its economic and environmental benefits.? Adding the Indian perspective of the emerging natural gas consumption he added that India is witnessing an interesting transition in its gas market. The major gas discoveries reported over past couple of years and likely availability of gas from these new domestic fields by early 2008 have strengthened India’s indigenous gas availability considerably. Keeping in view India’s aspirations for rapid economic growth, the rising trend in demand for energy is certain to continue.

Further, Dr. Choubey added that the competition in the global gas sector has two distinct dimensions like competition among the buyers to secure the largest share of a limited supply and competition among the sellers to secure the largest share of the market. As far as buyers are concerned there is a great concern over rising demand for energy outstripping supply in some of the Asian countries and more likely in countries like China, India and South Korea. There is also a situation leading to competition among the Asian gas consuming countries across the world.

Dr. Amit Mitra, addressing the conference, said ?there has been a rising concern over the energy security viz-a-viz national security causing concern over geopolitical unrest. There has been huge competition, evident in the LNG spot price between India, China, North Korea and this has contributed in pushing the prices higher. Dr. Mitra further added that ?there has been a weakening solidarity of user group. And there is a possibility to address the energy security aspects by co-operation based on certain principles which sellers have to adhere to regardless of vulnerability in energy security.?

This is the fifth in the series of Asian gas summits which were initiated by GAIL and FICCI in 2003. Till 2006 this was held as an annual event but it has been decided to conduct this every two years from this year onwards to make it more meaningful. The past four Summits have helped to develop a meaningful platform to discuss the opportunities and concerns associated with developments in natural gas markets, regulatory frameworks and cross border trade.

The Summit has attempted to bring together leaders from the global natural gas industry on one platform and has attracted active participation from global energy majors and institutions. This year also there is an impressive lineup of speakers from across the globe.

Some of the important international speakers on the occasion include industry leaders like, Amb. Andre Mernier, Secretary General, Energy Charter Secretariat, Mr. Marc Spitzer, Commissioner, Federal Energy Regulatory Commission, USA, Dr. Abdul Rahim Hashim, Vice President, International Gas Union, Norway, Mr. Torstein Indrebo, Secretary General, International Gas Union, Norway, Mr. Ron P. Billings, Vice President ? LNG, ExxonMobil LNG Market Development Inc., USA, Mr. David Morrison, Chairman ? Energy, Wood Mackenzie, Singapore, Mr. Iin Arifin Takhyan, Deputy President , Pertamina, Indonesia, Mr. Liu Ming Hui, MD, China Gas Holdings, Mr. Kevin Raine, Managing Director, Fusion Provida, UK, Mr. Nick Davies, CEO, Arrow Energy Australia, Mr. W. M Crook , Global Regulatory Head, ExxonMobil Gas and Power Marketing, USA. The Indian side is represented by, among others, Mr. S Sundareshan, Additional Secretary, Ministry of Petroleum and Natural Gas, Government of India, Mr. V K Sibal, Director General, Directorate General of Hydrocarbons, India., Dr. U. D. Choubey, CMD GAIL, Mr. R S Sharma, CMD ONGCL, Mr. Sarthak Behuria, Chairman & Managing Director, IOCL, Mr. L Mansingh, Chairman, Petroleum and Natural Gas Regulatory Board, India and a host of prominent industry leaders.

More than 300 delegates are expected to participate in this two-day Summit with over 100 national and international companies in the hydrocarbon sector such as GAIL, ONGC, IOCL, Reliance, Petronet LNG, HPCL, BPCL, Gujarat Gas, IGL, MGL, Great Eastern Energy Corporation Ltd, Punj Lloyd Ltd, Torrent Power, Welspun Gujarat Stahl Rohren Limited, TNGCL, Jubiliant, Kalpataru Power Transmission Limited, IDFC among the national companies. There is a large participation of MNCs like ExxonMobil, BG, BP, TOTAL, Cairn Energy, Arrow Energy, China Gas, Uzbekneftgaz, Pertamina, Fusion Provida, McKinsey & Co., Corrtech, Elster Instromet (India) Limited, Gaz de France, Rolls Royce Pte Ltd., Norten Rose, Wood Mackenzie, Asian Development Bank, HSBC, Crisil, International Finance Corporation, Poten & Partners, Earnst & Young, Platts, South Asia Gas Enterprise to name a few.”