ONGC to supply nautral gas to Torrent Power

Mumbai, June 16: The state owned oil&exploration major ONGC Ltd will supply 0.9 million standard cubic metres per day (MMSCMD) of Natural Gas to Gujarat-based Torrent Power Generation Ltd.

Announcing this, ONGC said the Natural Gas would come from its 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 yesterday to formalise the terms of this sale. Chairman&Managing Directors of ONGC and Torrent, R S Sharma and Sudhir Mehta, respectively, were present on the occasion.

The supply would commence around August next year when the 1100 MW Combined Cycle Power Plant of Torrent in Surat would go full steam.

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

UNI