India open to long-term gas contracts at $5/MMBtu - Feedback

Aiming to secure gas from 24,000 MW of stranded power plants, India is open to signing long-term contracts for the fuel at $5 per MMBtu, said Power Minister Piyush Goyal.

Striking an optimistic note, Goyal also projected that the country’s growth rate will be in double digits by next year if not in this fiscal (2016-17), the caveat being that India needs a strong monsoon.
Speaking at the renewable energy investors’ round-table, co-hosted by industry bodies CII and USIBC here on Thursday, the Minister called upon gas producers to explore investment opportunities in the Indian market. “India is willing to take gas for its gas-based power projects and sign long-term contracts of 10-15 years but this can be done at a fixed price of $5 per MMBtu as the power sector is a price-sensitive sector in the country,” he added.

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