GAIL to supply Panna-Mukta Tapti (PMT) gas to NTPC to alleviate power crisis.

May 5, 2005, New Delhi

• On the 29th of March, 2005, MoP&NG decided that the JV operators of the Panna-Mukta and Tapti (PMT) fields will sell 6 million cubic meters per day (MMSCMD) of gas to GAIL for meeting the requirements of the existing Power and Fertilizer sector consumers, w.e.f. the 1st of April, 2005.
• On the 20th of April, 2005, MoP&NG clarified that for the 6 MMSCMD of gas to be supplied to the Power and Fertilizer sector consumers by GAIL from the 1st of April, 2005, the selling price to onsumers shall be about Rs. 4,160 per 1000 SCM.
• The price of Rs. 4,160 per thousand cubic meter was accepted by a large number of customers, namely NFL, Chambal Fertilizers, Tata Fertilizers, Indo Gulf, IFFCO, Oswal Fertilizers, Pragati Power, Delhi Vidyut Board who have already started drawing their requirement of about 4 MMSCMD.
• Keeping in view the onset of summer, GAIL reserved 2.1 MMSCMD of the PMT gas for NTPC. After discussions in this regard, it has been decided that supply of 2.1 MMSCMD of the PMT gas will commence to NTPC from today. Further, efforts are being made to supply an additional quantity of gas, up to 1.9 MMSCMD, thereby enhancing the supplies up to 4 MMSCMD.
• Commencement of enhanced gas supplies to NTPC would help in easing the overall power situation.