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Gujarathi`s News Line ........

Murli Deora allocates 12.42 MMSCMD gas to RIL
=============================================

Minister of Petroleum Shri Murli Deora an important member of Empowered Group of Ministers while deciding additional allocation of 50 MMSCMD of KGD-6’s gas on 27th October 2009 granted/gifted around 12.42 MMSCMD gas to various units of RIL including RIL’s captive power plants .

Noteworthy to mention here is that in previous meetings of EGOM dated 28th May 2008 and 23rd October 2008 where Gas utilization Policy (as it stands today) was decided, Captive Power plants figure no where in the list of priorities, even Petrochemicals and Refineries figured quite low in the priority list.

Also apt to mention here is that RIL’s counsel Mr. Harish salve (in the final hearings in RIL-RNRL gas dispute) has been tom tomming before Supreme Court that RIL does not have enough gas for it’s internal consumption.

Break up of gas allocation to RIL

•Petrochemicals: RIL cornered the total 1.918 MMSCMD gas allotted to Petrochemicals which went to RIL (RIL Gandhar - 1.168 and RIL Nagothane - 0.75)

•Refineries: Total allocation is 5 MMSCMD firm plus fallback (temporary basis) 6 MMSCMD. RIL’s Share in allocation 50% i.e., firm 2.5 plus fallback 3 MMSCMD. Thus half of the total allocation was given to RIL.

•Captive Power Plants: Out of total fallback allocation of 10 MMSCMD for captive power plants, RIL’s share of new allocation is 50% equivalent to 5 MMSCMD.

•Hence, RIL’s share of total gas comes to 12.42 MMSCMD with 4.42 MMSCMD in firm category plus 8 MMSCMD in fallback category.

•RIL is currently purchasing gas at the rate of US$ 9/MMBTU a gift of 12.42 MMSCMD of gas at US$ 4.2/MMBTU entails a cost difference of around $5/MMBtu, the resultant savings for RIL work out to more than $700 million or approximately Rs 3,200 crores per year. Thus leading to huge savings of more than Rs 16000 crores for the next five years.

GUJARATHI		   
Posted By     GUJARATHI

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