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Home News Power Sector News RIL signs agreements for supplying KG gas for 11 power plants

RIL signs agreements for supplying KG gas for 11 power plants

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RILReliance Industries Ltd has sealed agreements with nine generation utilities for supplying natural gas from its Andhra offshore field to 11 of the 18 power plants identified by the government, the company said in a statement . The statement said the quantity of gas will help ramp up generation by 4,000 mw. The agreements account for roughly 11 of the 18 mcmd (million cubic metres per day) gas a ministerial panel had earmarked for power plants that are either idling or running below capacity due to fuel shortage. The allocation was made out of the first 40 mcmd-levels of gas production that RIL reckons to reach by June.

Reliance said the contract will be for five years and gas will be sold at government-approved rates of $4.2 mBtu (million British thermal unit) plus taxes and transportation. An oil ministry official said a draft pact has been sent to NTPC and it could be signed soon. A deal with Dabhol will come later as the plant cannot take gas now and an agreement at this stage will expose it to penalty due to take-or-pay clause in the agreement.

Supply agreements have been signed with all the seven power plants in Andhra Pradesh identified by the government. Reliance said supply deals have been signed with Gautami Power, Gujarat Paguthan Energy Corporation, two GVK plants, Konaseema Gas Power Ltd, Lanco Kondapalli Power, MahaGenco, Reliance Infrastructure, Torrent Power's Sugen and Vatva units and Vemagiri Power.

Source - Times of India

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