Had there been a 'take or pay' liability clause, Petronet would have had to pay Rs 12,000 crore to RasGas though it had not bought gas in 2015
There will be no 'take or pay' liability for gas not taken from RasGas in 2015,
Prabhat Singh, MD & CEO of the Petronet LNG tells CNBC-TV18.
Had there been a liability clause, Petronet would have had to pay Rs 12,000 crore to RasGas, he says.
Singh says the gas will be taken this year and paid for. He expects his company to save Rs 4000 crore in terms of annual subsidy to the fertiliser sector because of lower gas prices, and sees savings of Rs 10,000 crore in the next three years.
Watch accompanying video for more details.
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First Published on Jan 1, 2016 10:33 am