|
Sarkaritel.com News and
Features-Corporate News
GAIL signs contract for supply of PMT gas
New Delhi, April 02, 2008
GAIL (India) Limited has signed a contract with the
consortia of Reliance Industries, BG Group of UK and Oil &
Natural Gas Corporation (the co-venturers of the PMT fields in
western Offshore) for buying the entire quantity of 17.3
million metric standard cubic meter per day. GAIL will buy the
gas at USD 5.73 per million British Thermal Unit for Panna
field and USD 5.57 per million British Thermal Unit of the
Tapti field. The contract was signed late last night and is in
pursuance of the Government nominating GAIL as its nominee to
take the entire PMT Gas.
Subsequently, agreements were also reached regarding the
supplies to consumers. GAIL signed a term-sheet to supply, at
PSC prices, 3.6 MMSCMD of natural gas to Reliance Industries
Ltd and 2.13 MMSCMD of gas to Gujarat Gas Company Limited as
per the advice from the Ministry of Petroleum & Natural Gas,
Government of India.
GAIL has also signed a short term Term-sheet for 15 days with
Gujarat State Petroleum Corporation Limited for the supply of
Natural gas for its City gas and small industries. After this
period of 15 days, GAIL will evolve a system for further
supplies.
The present supply of 5 MMSCMD of gas at APM Prices gas to
Power and Fertilizer units will be maintained.
Apart from this, GAIL will also supply 1.5 MMSCMD to Rajasthan
Rajya Vidyut Nigam Limited and 1 MMSCMD of natural gas to 8
fertilizer units along the Hazira and HBJ pipeline and 0.9
MMSCMD to Torrent Power.
E-Mail :
newseditor@sarkaritel.com
|
