Torrent Power inks lNG supply pact with BP Singapore
MUMBAI:
Torrent Power
Ltd (TPL) on Monday said it has signed a long-term sales and purchase agreement with
BP Singapore
Pte. Limited, a subsidiary of London-headquartered integrated energy company
BP Plc
, for the supply of up to 0.41 million metric tonnes per annum of
LNG
from 2027 to 2036.
The LNG procured under this agreement will be strategically utilised by TPL, including to operate its 2,730 MW combined cycle gas-based power plants (GBPPs) in India to meet the country's increasing power demand, support peak demand periods and balance the renewables.
It will also support the growing requirement of LNG of Torrent Group's city gas distribution (CGD) arm,
Torrent Gas Ltd.
(TGL), to ensure a reliable supply of gas for households, commercial and industrial consumers, and CNG vehicles.
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"Taking advantage of softness in LNG prices, TPL along with TGL further intends to explore medium- and long-term LNG procurement in response to the growing demand from its GBPPs and CGD networks respectively, aiming to enhance its portfolio diversity and reliably to meet energy supply needs of customers," the company said.
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