A gas sales agreement has been signed between Oil & Natural Gas Corpn and Torrent Power Generation. According to agreement, ONGC will supply 0.9 million standard cubic metres per day (MMSCMD) of natural gas to the Torrent.
Supply would commence around August 2007, when the 1,100 MW combined cycle power plant of Torrent in Surat - SUGEN CCPP - would go full steam, the company said. The sales agreement is valid for 12 years. The pricing of the gas would be considered for revision every three years. The current price, based on calorific value of gas, is $4.75 per million British thermal unit (mmBtu). The natural gas would come from ONGCs share of gas produced from the offshore Panna-Mukta-Tapti joint venture.
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| Posted : 6/17/2006 |
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