'FACT to get LNG by July-end'

KOCHI: Fertilisers and Chemicals Travancore will get the long-awaited LNG, to be used as feedstock for production of various fertilisers, from July-end.

This will be more cleaner, competitive than the present feedstock of Naphtha and furnace oil, its Chairman and Managing Director Jaiveer Srivastava told reporters here.

Asked if any agreement for LNG purchase had been inked, Srivastva said a meeting had been held with PMO in Delhi two days ago. Indications were given that the LNG price would be USD 15.5 MMBTU.

"As far as the agreement is concerned, it is being negotiated. We want the best of rates," he said.

Naphtha subsidy will be available to the PSU till June 30. "We have already requested to extend it till Mar 31, 2014."

FACT would become the first company to shift to LNG from Naphtha.

All the necessary conversions have already been made. LNG would be transported in pipelines which are also ready, he said.