Commodity Online

NEW DELHI: ONGC has came to term with North Eastern Electric Power Corp Ltd for supplying 0.5 million standard cubic metres of gas per day to its power generation plant in Tripura.

According to Term Sheet between ONGC and NEEPC, the gas major has to supply of 0.5 million standard cubic metres of gas per day from future exploratory efforts of ONGC to NEEPCO's plant at Monarchak in West Tripura.

ONGC Director (Offshore) N K Mitra and NEEPCO Director (Finance) M R Ghosh signed the term sheet, a company press release said here.

After signing of this Sheet there is a 45 day period within which a formal contract is to be signed, but NEEPCO indicated that, it is interested in hastening the process much before the due date.

Tripura is energised by three thermal and one hydel power stations. But NEEPCO's gas based power stations are vital for meeting the growing energy demands of the hilly state.

India