Gas Authority of India Ltd, which signed a memorandum of understanding with the state government recently, will spend Rs 2,000 crore (Rs 20 billion) this year to lay the pipeline, a senior company official said.
Ratnagiri Gas will be an equal JV between NTPC and GAIL if MSEB which has been offered a small stake does not pick up equity
GAIL (India) Ltd has agreed to infuse an additional Rs 500 crore (Rs 5 billion) into Ratnagiri Gas and Power Pvt Ltd to enable the owner of the beleaguered Dabhol plant to clear pending dues of contractors.
Ratnagiri Gas and Power Pvt Ltd, the new owner of the Dabhol power project,
The plant will start functioning to its fullest by the end of January 2008, after delay of one-month from previous schedule.
Electricity from Dabhol power project in Maharashtra, which is likely to restart from July 2006, will cost Rs 2.50 to Rs 2.75 a unit, 20 per cent more than previous estimates as natural gas prices have firmed up.
Maharashtra on Monday said the LNG pipeline for supplying gas to the beleaguered Ratnagiri (erstwhile Dabhol) power plant would be completed by April this year after which the cost of power would work out to be Rs 3 per unit.
India on Wednesday offered Qatar a 10 per cent stake in Petronet LNG Ltd to get the worlds largest liquefied natural gas exporter to sell 18 more LNG cargoes this year and agree on a long-term supply deal for meeting fuel needs of beleaguered Dabhol power plant.
US energy major Enron Corp's original contractors for the $2.96-billion Dabhol power project will complete the unfinished LNG terminal to restart the stalled 2,184 MW plant by next year.
Hindustan Petroleum Corporation and Petronet LNG will partner with Oil and Natural Gas Corporation in the liquefied natural gas import terminal ONGC plans to put up at Mangalore in Karnataka.
The special purpose vehicle floated by GAIL(India) Ltd and National Thermal Power Corporation to revive the 2,184 MW Dabhol power plant has been named 'Ratnagiri Gas and Power Pvt Ltd'.
The 1,967 MW plant has not been operating since August because of stoppage of natural gas supplies from domestic fields.
India on Monday sought fuel from Qatar to restart the $2.9-billion Dabhol power project in Maharashtra.
The Rs 3,200-crore (Rs 32 billion) Hazira LNG Pvt Ltd is expecting to land itself long term gas supply contracts to various domestic fertiliser and power producers, including the Dabhol project, by the end of this year.
State-run gas firm GAIL (India) Ltd on Wednesday said it was talking to the Indian lenders of the Dabhol Power Company to takeover the 2,184 MW power plant and the adjoining LNG import facility in Maharashtra.
Gas Authority of India on Monday said it is planning to invest up to $500 million over the next three to five years for gas exploration and liquefaction facilities in Australia.
State-run gas firm Gas Authority of India Ltd has joined hands with Tata Power Co Ltd and British Petroleum to bid as a group for bankrupt US energy firm Enron Corp's Dabhol power plant and LNG import terminal in Maharashtra.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
