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NTPC seeks quick action in RIL gas case.

NATIONAL Thermal Power Corp ( NTPC) has asked the government to take up its case for allocation of gas from the eastern offshore KG basin field operated by Mukesh Ambani- run Reliance Industries Ltd ( RIL) immediately.

According to sources, NTPC has also informed the government that its case be considered separately from gas demanded by Anil Ambani's Reliance Natural Resources Ltd ( RNRL), which lost the case in the Supreme Court for buying gas at $ 2.34 per million metric British thermal units ( mmBtu) based on a family settlement.

NTPC had floated a global tender inviting bids for supplying gas for its plants at Kawas and Gandhar in Gujarat. RIL quoted a price of $ 2.34 per mmBtu for supplying 12 MMSCMD gas for 17 years at the time. The price of gas for RNRL in the Ambani settlement was based on the NTPC- linked price. NTPC has reiterated its demand as the Ambani brothers are trying to negotiate a fresh settlement based on the Supreme Court directive.

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Publication:Mail Today (New Delhi, India)
Date:May 25, 2010
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