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Monday, April 5, 1999

Enron offers to sell surplus LNG to GAIL

PRESS TRUST OF INDIA  
NEW DELHI, APRIL 4: US multinational Enron Power Corporation has offered to sell surplus LNG from its $ 1.2 billion power project in Dabhol to state-owned Gas Authority of India Ltd (GAIL).

Enron has approached the corporation for selling surplus liquefied natural gas (LNG) from Dabhol but has not specified the exact quantum or price, GAIL sources said.

"We are still negotiating with Enron on the issue and would decide only after we know the exact details on the quantity and price," GAIL chairman and managing director C R Prasad said.

Enron is planning to import about five million tonnes of LNG annually from Oman, out of which about 2.5 million tonnes would be for captive consumption by the 2184 mw power plant in Dabhol (Maharashtra).

Interestingly, GAIL has a 16.5 per cent stake in Petronet LNG, a consortium set up by national oil companies to import LNG from abroad. GAIL sources said the company could go ahead with the Enron proposal as part of its strategic diversification activity to enter intocommercial ventures, despite being a part of Petronet LNG.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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