NEW DELHI: NTPC on Thursday inked a pact with Mukesh Ambani owned Reliance Industries Ltd. (RIL) to buy a part of natural gas allocated to it from K-G D6 fields at $4.2 per million British thermal unit (mBtu).
Under the agreement, NTPC will buy 0.61 million standard cubic metres of gas a day (mscmd) for its plant in Anta in Rajasthan. The gas will start flowing in the next week or so. The volumes are less than one-fourth of the 2.67 mscmd gas the Empowered Group of Ministers headed by Pranab Mukherjee had allocated to NTPC. The power company signed a gas sales and purchase agreement (GSPA) with RIL and a separate gas transportation agreement with Reliance Gas Transportation Infrastructure.