News Release Details

IndianOil signs agreement with Pragati Power for supply of R-LNG to Bawana Power Plant
New Delhi 09-Oct-2007
Indian Oil Corporation (IndianOil) signed an agreement with Pragati Power Corporation Ltd. (PPCL) here today for supply of Re-gassified Liquefied Natural Gas (R-LNG) for its 1,500 MW power plant being set up at Bawana, Delhi. The agreement was signed by Shri B.M.Bansal, Director (Planning & Business Development), IndianOil, and Shri Vipin Kumar, Director (Technical), PPCL, in the presence of Smt. Sheila Dikshit, Hon’ble Chief Minister of Delhi; Dr. A.K.Walia, Hon’ble Minister for Power, Government of Delhi; Shri R. Narayanaswami, Chief Secretary; Shri Rakesh Mehta, Secretary (Power); Shri Sarthak Behuria, Chairman, IndianOil, and several State Government and oil sector officials. IndianOil shall supply one-third quantity of the power plant’s total R-LNG requirement of 1.65 million tonnes per annum. It shall source the gas from its joint venture company, Petronet LNG Ltd., and transport it through the gas pipelines of GAIL (India) Ltd. The supplies shall start from October 2009 for a contract period of 15 years and the delivered price shall be based on pooled price principle applicable at the time of delivery of gas in line with the policy decision of the Ministry of Petroleum & Natural Gas. Having entered the natural gas business in August 2004, IndianOil marketed 1.63 million tonnes of R-LNG, including consumption by own refineries, in the year 2006-07. It is now in the process of sourcing more LNG, building LNG infrastructure and expanding the customer base further. An LNG import terminal is planned at Ennore near Chennai. Green Gas Ltd., IndianOil’s joint venture with GAIL for city gas distribution, is operational in Agra and Lucknow and plans to expand to other cities in western UP. IndianOil also signed a Memorandum of Understanding with Great Eastern Energy Corporation Ltd. (GEECL) for establishing city gas distribution networks in West Bengal based on Coal Bed Methane (CBM) from GEECL’s CBM blocks. A separate joint venture company is also being formed with GAIL for city gas distribution in West Bengal and subsequently in other eastern states. Recently, IndianOil commissioned, for the first time in India, pilot projects offering ‘LNG at the doorstep’ through cryogenic transport and storage facilities to customers located away from natural gas pipelines.

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The term User shall refer to the user who is browsing the site. The term IndianOil shall refer to Indian Oil Corporation Limited. The term Site refers to www.iocl.com owned and monitored by IndianOil.
By using the Site, you agree to follow and be bound by the following terms and conditions concerning your use of the Site. IndianOil may revise the Terms of Use at any time without notice to you. Areas of the Site may have different terms of use posted. If there is a conflict between the Terms of Use and terms of use posted for a specific area of the Site, the latter shall have precedence with respect to your use of that area of the Site.
ndianOil may terminate User's access at any time for any reason. The provisions regarding to disclaimer of warranty, accuracy of information, and indemnification shall survive such termination. IndianOil may monitor access to the Site.
All content present on this site is the exclusive property of IndianOil. The software, text, images, graphics, video and audio used on this site belong to IndianOil. No material from this site may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from IndianOil. All rights not expressly granted herein are reserved. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. IndianOil is a registered trademark of Indian Oil Corporation Ltd. This trademark may not be used in any manner without prior written consent from IndianOil.
IndianOil does not make any warranties, express or implied, including, without limitation, those of merchantability and fitness for a particular purpose, with respect to any information, data, statements or products made available on the Site.
The Site, and all content, materials, information, software, products and services provided on the Site, are provided on an "as is" and "as available" basis. IndianOil expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
IndianOil shall have no responsibility for any damage to User's computer system or loss of data that results from the download of any content, materials, information from the Site.
IndianOil may change or discontinue any aspect of its website at any time, including, its content or features. IndianOil reserves the right to change the terms and conditions applicable to use of the Site. Such changes shall be effective immediately upon notice, which shall be placed on the Site.
In no event will IndianOil be liable for damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use IndianOil's website, or any information provided on the website, or in the Products any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof. Some jurisdictions do not allow the limitation or exclusion of liability. Accordingly, some of the above limitations may not apply to the User.
User agrees to indemnify, defend and hold IndianOil harmless from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of or relating to any misuse by the User of the content and services provided on the Site.
The information contained in the Site has been obtained from sources believed to be reliable. IndianOil disclaims all warranties as to the accuracy, completeness or adequacy of such information.
IndianOil makes no warranty that: (a) the Site will meet your requirements; (b) the Site will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the Site or any services offered through the Site will be accurate or reliable.
The User's right to privacy is of paramount importance to IndianOil. Any information provided by the User will not be shared with any third party. IndianOil reserves the right to use the information to provide the User a more personalized online experience.
The Site provides links to web sites and access to content, products and services from third parties, including users, advertisers, affiliates and sponsors of the Site. You agree that IndianOil is not responsible for the availability of, and content provided on, third party web sites. The User is requested to peruse the policies posted by other web sites regarding privacy and other topics before use. IndianOil is not responsible for third party content accessible through the Site, including opinions, advice, statements and advertisements, and User shall bear all risks associated with the use of such content. IndianOil is not responsible for any loss or damage of any sort User may incur from dealing with any third party.