NEW DELHI: Reliance Industries (RIL) today said it has issued notice
to suspend gas supply to Reliance Infra for "default" payment, within
days of Anil Dhirubhai Ambani Group (ADAG) entity saying it would not
pay "illegal" marketing margins to Mukesh-led firm."
The notice has been issued due to default committed by Reliance
Infrastructure in payment of the amounts due to RIL under the invoice
for gas supply during the first fortnight of September 2009," an RIL
spokesperson said today.
Reliance Anil Dhirubhai Ambani Group, has replied to the notice saying:
- The notice is misconceieved and malafide
- RIL will be solely responsible for any loss to reliance
infrastructure for non supply of gas
- Reliance infra continues to make payment of lawful sales
consideration at $4.2/mmbtu
- Charges under marketing margins are 'illegal' and contrary to
provisions of the production sharing contract
Reliance Infra has been getting the gas from RIL for its power plant
in Andhra Pradesh for last five months at a price of $4.2 per mmBtu
and marketing margin of 0.13 per mmBtu.
The Anil Ambani group, fighting a legal battle for securing 28 mmscmd
gas for Reliance Natural Resources (RNRL) from RIL at a price of $2.34
per mmBtu under a family settlement, had last week questioned the
marketing margin and had informed RIL that it would not pay the same.
"On September 22, 2009, RIL has issued a notice to Reliance Infra for
suspension of supply of gas to its power plant in East Godavari,
Andhra Pradesh...The notice has been issued in accordance with the
terms of Gas Sale and Purchase Agreement (GSPA)," the RIL spokesperson
added.
Earlier in its letter, Reliance Infra had told RIL that their gas
supply agreement was not a result of any marketing undertaken by RIL
or any agency and "since there has been a complete absence of any
marketing, the charge in respect of marketing margin is clearly
unwarranted."
Meanwhile, state-run NTPC, India's biggest power producer, today
signed a pact with Mukesh Ambani-led Reliance Industries to buy a part
of natural gas allocated to it from K-G D6 fields at a rate of $4.2
per mmBtu.
NTPC will buy 0.61 million metric standard cubic meters of gas a day
(mmscmd) for its plant in Anta in Rajasthan, an industry official
said. The gas will start flowing in the next 7-10 days, the official
added.
The volumes are less than one-fourth of the 2.67 mmscmd gas the
Government had allocated to NTPC.
The state-run power utility signed a Gas Sales and Purchase Agreement
(GSPA) with RIL and a separate Gas Transportation Agreement with
Reliance Gas Transportation Infrastructure.
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