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Corporate Disputes
Ministry yet to settle GAIL, ONGC row
Our Bureau
New Delhi
,
Feb. 23
The Petroleum Ministry has said that it is yet to take a decision on allowing GAIL (India) Ltd to continue selling 6 million standard cubic metrrs per day (MMSCMD) of gas from the Panna-Mukta-Tapti (PMT) fields.
The PMT partners - Oil and Natural Gas Corporation (ONGC), British Gas, Reliance Industries - had sought the Ministry's permission to sell 6 MMSCMD of gas from the fields, currently being given to GAIL, directly to clients at market price from April 2006.
Responding to a query on the ongoing conflict between GAIL and PMT consortium partner ONGC, the Petroleum Secretary, Mr M.S. Srinivasan, said, "We have called an internal meeting this evening to discuss the issue. As of now, there is no decision."
Gail and ONGC have been at variance in their claims on an agreement for selling gas beyond March 31 this year from the PMT fields. The state-owned oil major, ONGC has disputed the gas transmission company's claims about an agreement to continue selling gas beyond March 31.
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