NTPC to buy 2.5 mmscmd LNG from spot mkts
State-run NTPC Ltd, country's largest power generating company, will buy 2.5 mmscmd of liquefied natural gas from spot markets over the next three months to meet short-term requirements at its power projects.
By PTI |
NEW DELHI: State-run NTPC Ltd, country's largest power generating company, will buy 2.5 mmscmd of liquefied natural gas from spot markets over the next three months to meet short-term requirements at its power projects.
The company is also looking to acquire coal mines abroad and is scouting for locations in various states, including Tamil Nadu, to set up its maiden nuclear power project.
"We will buy 25,000 tonnes of LNG or about 2.5 million metric standard cubic meters per day of LNG over next three months in spot cargoes," NTPC Chairman and Managing Director T Sankarlingam told reporters on the sidelines of a seminar.
The LNG would be utilised at five of the company's plants at Anta, Auraiya, Kawas, Gandhar and Dadri but Dabhol and Kayamkulam plants were not included in the arrangement.
Sankarlingam did not say the price at which the company would buy LNG, though global spot markets are ruling at around $8-10 per million British thermal unit.
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Besides buying LNG from spot markets, the company has forayed into exploration and production of natural gas and is looking to tie-up long-term agreements as well to meet fuel requirements at its gas-fired projects.The company was looking to buy coal mines overseas, he said, but refused to elaborate. NTPC would also begin coal production from its first mine in December 2007, he said.
Asked about NTPC's nuclear plans, he said the company was in talks with the Department of Atomic Energy for the project.
"We are keenly watching the Indo-US nuclear agreement and at the same time looking for probable sites in various states such as Tamil Nadu for setting up the project once all the approvals come," he said, adding the project would come up only during the 12th plan (2012-17).
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