15 years, 7 months ago

NTPC to wait for gas panel nod, says Shinde

NTPC will wait for the final decision of the gas panel headed by Union Finance Minister Pranab Mukherjee before making up its mind on moving the Supreme Court on the natural gas supply dispute with Reliance Industries Ltd., Union Power Minister Sushil Kumar Shinde said here on Friday. “Considering the entire situation that prevails today, I think we have to wait till the next meeting of the gas panel which is likely to happen shortly,” Mr. Shinde told reporters. NTPC and RIL are fighting in the Bombay High Court over a 2004 gas supply tender, which RIL had bagged with a winning bid of $2.34 per mmBtu. A unified stand was required as RIL could challenge its 2004 NTPC tender on the grounds that the government’s stand on pricing would frustrate the deal.

The Hindu

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