Financial Daily from THE HINDU group of publications
Wednesday, Aug 07, 2002
Financial Daily from THE HINDU group of publications Wednesday, Aug 07, 2002 |
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Corporate
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Outlook BG pins hopes on NTPC contract Our Bureau
MUMBAI, Aug. 6 BRITISH Gas India is pinning its hopes on the three million-tonne LNG supply contract of National Thermal Power Corporation (NTPC) to start its Indian LNG business and to go ahead with its Pipavav terminal project in Gujarat. "We need some firm commitment on the consumption end to shape up the LNG chain before investing in the terminal. The NTPC contract would be the "key'' to begin work on the proposed terminal at Pipavav in Gujarat,'' Mr Nigel Shaw, Chief Executive Officer, BG India, said. BG India planned to bring in LNG by 2006. The proposed LNG terminal would be set up at the all-weather port at Pipavav. The company had already invested around $20 million and the engineering and design of the terminal had been completed. But construction would not begin unless the supply contracts with industrial customers were tied up, Mr Shaw said. NTPC had called for expressions of interest from LNG suppliers for gas supply to its power projects. The company has also said it planned to convert some of its existing power plants to use natural gas. BG India is talking to gas suppliers in West Asia and in South Asian countries for a long-term contract for importing gas to India.
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