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RIL signs gas sale agreements with nine power firms |
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Reliance Industries has signed gas sales agreements with nine power firms to supply 11 million metric standard cubic meters per day of gas.
The company will sell gas at the government-approved price of $4.2 per million metric British thermal unit (mmbtu) for five years to fuel 11 power plants. The KG basin gas will supply the gas, from where RIL started production early this month.
President and CEO of RIL`s petroleum business PMS Prasad said that it may sign similar arrangements with other power firms. In the first phase of production at the KG basin, the total gas supply of RIL to the power sector is expected to increase 18 mmscmd.
Mr. Prasad said, "The expected supply of 18 mmscmd gas to the power sector would largely eliminate the deficit in gas supply being faced by these (power) units and result in generation of approximately 4000 MW of power, which would be a welcome relief in many parts of the country."
The companies signing the agreement with RIL include Gautami Power, GVK Industries, Konaseema Gas Power, Lanco Kondapalli Power, Reliance Infrastructure, Vemagiri Power Generation, Gujarat Paguthan Energy Corporation, Torrent Power and Maharashtra State Power Generation Company.
The company has already signed agreements with fertiliser firms for the supply of 14 mmscmd of gas.
(Posted on : 29/04/2009)
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| RIL signs gas sale agreements with nine power firms |
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