praveen
21-10-2008, 06:12 AM
Reliance Industries’ senior counsel Harish Salve said on Monday that his client (RIL) was ready to sell gas to Reliance Natural Resources (RN
RL) at the same terms present in its draft contract with NTPC.
While presenting his arguments in the long-pending legal battle between RIL and RNRL, Mr Salve said: “RIL’s draft contract with NTPC has the price of $2.34 per million metric British thermal unit (mmBtu) for a 17-year period, subject to government approval.
NTPC contract recognises the importance of government approval while RNRL is not willing to accept government approval clause in the RIL-RNRL gas sales purchase agreement (GSPA).”
RL) at the same terms present in its draft contract with NTPC.
While presenting his arguments in the long-pending legal battle between RIL and RNRL, Mr Salve said: “RIL’s draft contract with NTPC has the price of $2.34 per million metric British thermal unit (mmBtu) for a 17-year period, subject to government approval.
NTPC contract recognises the importance of government approval while RNRL is not willing to accept government approval clause in the RIL-RNRL gas sales purchase agreement (GSPA).”