ONGC to supply Gas to Torrent Power Generation

New Delhi, June 16 (UNI) Oil and Natural Gas Corporation Ltd (ONGC) will supply 0.9 million standard cubic metres per day (MMSCMD) of Natural Gas to Gujarat-based Torrent Power Generation Ltd.

The Natural Gas would come from ONGC's share of gas produced from offshore under the Panna-Mukta-Tapti (PMT) Joint Venture.

A Gas Sales Agreement was signed between ONGC and Torrent at ONGC's office in New Delhi on 15th June 2006, to formalise the terms of this sale.

The supply would commence around August of 2007, when the 1100 MW Combined Cycle Power Plant of Torrent in Surat SUGEN CCPP - would go full steam.

The agreement is valid for 12 years. The pricing of the gas would be considered for revision every 3 years. The current price (based on calorific value of Gas) is 4.75 dollars per million British Thermal Unit (mmbtu).

UNI RT CS ND1752