Indian GEECL Signs Sales Agreement
Indian coalbed methane explorer Great Eastern Energy Corporation has signed an agreement with an undisclosed customer to supply 10mn ft3/d of gas from August 31, 2017, it said August 3.
A preliminary agreement was inked in November 2016. The customer's peak requirement is expected to be about 100mn ft3/d.
Prashant Modi, CEO of Great Eastern, said: "We are delighted to finally execute this gas sales and purchase agreement, albeit with some delays. This is another significant milestone for us and reaffirms the increasing demand in the area."
Great Eastern supplies gas to the growing industrial region of the eastern Indian state of West Bengal. Gas is being produced from the Raniganj (South) license area, which covers 210 km2, with 2.62 trillion ft3 of gas-in-place. The company's second asset is the Mannargudi license, situated in the southern Indian state of Tamil Nadu in India, which covers an area of 667 km2 and 0.98 trillion ft3 gas-in-place.
Shardul Sharma