The Hindu Business Line : NTPC eyes gas-swap deals in W. Asia

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New Delhi March 3 NTPC Ltd has widened its search for gas-swap deals to West Asian markets, where the state-owned utility could invest in power projects in return for getting gas supply contracts for its projects back home.

"If we get to bring gas into the country, we are open to the possibility of setting a power plant in West Asia," a senior NTPC official said. The company is in advanced stages of clinching a similar gas-swap opportunity in Nigeria, under which the utility would get about 3 MMTPA of gas in lieu of setting up a 500-MW coal-based station and a 700-MW gas-based project in that country, besides restarting a station shut after a boiler explosion. In the case of West Asia as well, the company is eyeing a deal on the lines of the Nigeria one.

NTPC is now buying gas from the spot market through a limited tendering route between $10.5 and $12 per mBtu to tide over short-term supply constraints. The PLF for NTPC's gas stations, subsequently, has shot up to 77.17 per cent during the first nine months of this fiscal against 64.89 per cent in 2005-06.

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