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GAIL signs contracts to takeover PMT gas marketing
New Delhi, April 01, 2008
In a landmark development, state gas utility GAIL India Ltd
signed contracts on Tuesday for taking over marketing of
natural gas produced from Panna-Mukta and Tapti gas fields.
GAIL signed a contract with the consortia of Reliance
Industries, BG Group of UK and Oil and Natural Gas Corporation
who are the joint operators of the PMT fields lying in western
offshore for buying the entire 17 million standard cubic
meters per day of gas produced from the fields.
It then signed contracts for sale of the gas to consumers,
including RIL at the Government approved price of 5.7 dollars
per million British thermal unit.
"We have this morning signed contracts to takeover marketing
of the gas from this fiscal," GAIL Director (Marketing) B C
Tripathi told a news agency.
GAIL, which was the official marketing agency of the PMT gas
till 2005 when Petroleum Ministry gave the rights to the field
operators for an interim period, also contracted RIL for sale
of 3.6 mmscmd of gas to its petrochemical plants.
About 5 mmscmd gas would be supplied to power and fertiliser
plants, while 2.13 mmscmd gas would be sold to BG's
subsidiary, Gujarat Gas Co Ltd, for its city gas distribution
projects in Gujarat and other consumers.
Another 1.1 mmscmd gas would be given to Gujarat State
Petroleum Corporation (GSPC) for 15 days to meet the
requirement of small consumers in Gujarat.
After this period, GAIL will takeover the supplies to these
consumers.
Tripathi said Torrent Power would get 0.9 mmscmd gas, while
Rajya Vidyut Nigam Ltd (RRVUNL) 1.5 mmscmd gas. GAIL would get
the remaining 2.8 mmscmd for extracting LPG from the fuel.
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