Financial Daily from THE HINDU group of publications
Monday, May 01, 2006
Financial Daily from THE HINDU group of publications Monday, May 01, 2006 |
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Corporate - Overseas Investments Industry & Economy - Power NTPC scouts for blocks in Egypt, Australia Anil Sasi
Future plans The foray into the oil and gas exploration business is part of the company's plans to integrate fully across the entire fuel value chain. Other countries on the company's radar include Saudi Arabia, Yemen and Malaysia.
New Delhi , April 30 NTPC Ltd has kicked off the process of scouting for oil and gas exploration blocks abroad, with plans being firmed up to pick up stake in Egypt and Australia. The State-owned company is also in active negotiations with the Nigerian Government to strike a barter arrangement by offering expertise to run several low-efficiency power stations in the African country, including the take-over and operations of some plants, in return for gas supply contracts for its stations here, company officials said. The foray into the oil and gas exploration business is part of the company's plans to integrate fully across the entire fuel value chain for running its thermal stations in the country, several of which could face varying degrees of gas shortages in the future. NTPC officials said other countries on the company's radar include Saudi Arabia, Yemen and Malaysia. "We are actively exploring all possibilities to pick up equity stakes in the upstream LNG chain both abroad as well as domestically to ensure the long-term availability and price competitiveness of fuel for our gas-based power stations. Opportunities in Egypt, Australia and Nigeria are actively under consideration," an NTPC official said.
LNG value chain
In its medium-term outlook, the Rs 26,000-crore company is working towards getting into various elements of the LNG value chain, including possible participation in gas liquefaction and regassification terminals and LNG shipping through the joint venture route, officials said.
Initial investment
NTPC, which has a 40 per cent stake in the venture, is planning an initial investment of $11 million for developing the block in Arunachal Pradesh.
Related Stories: More Stories on : Petroleum | Overseas Investments | Power
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