Business Daily from THE HINDU group of publications
Saturday, Sep 05, 2009
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Business Daily from THE HINDU group of publications Saturday, Sep 05, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Outlook Industry & Economy - Petroleum
Our Bureau New Delhi, Sept 4 NTPC Ltd on Friday said it has resolved pending issues, excepting one, with Reliance Industries Ltd (RIL) on the signing of a Gas Supply and Purchase Agreement (GSPA) with the Mukesh Ambani group company. The GSPA pertains to gas supplies mandated by an empowered Group of Ministers (eGoM) to NTPC stations that are not part of its ongoing court case with RIL. With regard to the “unresolved issue”, NTPC is further carrying on discussion with RIL for an early resolution, the company said in a notice to the Bombay Stock Exchange. “With respect to allocation of KG-D6 gas by an eGoM for NTPC’s existing gas-based power stations, various issues for signing (the GSPA) with RIL have been resolved, except for one,” NTPC’s filing said, adding that a solution suggested by NTPC to RIL was not acceptable to the latter. The eGoM had allocated gas at $4.20 per mBtu (million British thermal units) from RIL’s KG Basin fields to NTPC’s Anta, Dadri and Faridabad power stations. In its communication to the BSE, the power major reiterated its commitment to draw the allocated gas from KG-D6 basin for the National Capital Region-based power stations, “without prejudice” to its rights and contentions in the ongoing legal tussle pending before the Bombay High Court. NTPC had taken RIL to court in 2005 over the failure of the latter to implement a gas supply pact for two of its gas-based station — Kawas and Gandhar — in Gujarat. More Stories on : Outlook | Petroleum | Reliance Industries Ltd | NTPC Ltd
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