New Delhi, Jun 5 (UNI) Country's flagship explorer Oil and Natural Gas Corporation Ltd (ONGC) today said it will supply 0.5 million cubic metres gas per day to North Eastern Electric Power Corporation Ltd (NEEPCO)'s gas-based power station at Monarchak at Tripura.
Under the agreement, extending over a period of 15 years, ONGC will commence supply of 0.5 million cubic metres per day of gas from the date of first drawal of gas, a statement said.
The first drawal is slated by September 25, 2010, within 30 months from the date of signing of Term Sheet.
The Term Sheet, which was signed earlier this year on March 25 this year, has now been regularised with this agreement.
This is the first agreement to be signed by ONGC at market price in Tripura.
NEEPCO plans to produce 104 MW of power by 2010-end from this combined cycle power plant.
A Gas Supply Agreement (GSA), formalising this, was concluded in the city between the two parties today.
ONGC will be transporting gas from its various new fields in Tripura, including Sonamura, Tichna and Sundalbari and deliver at the fence of Neepco's Monarchak project.
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