New York : Aiming to secure gas from 24,000 MW of stranded power plants, India is open to signing long-term contracts for the fuel at $5 per MMBtu, Power Minister Piyush Goyal said.
Striking an optimistic note, Goyal also projected that the country’s growth rate will be in double digits by next year if not in this fiscal (2016-17), the caveat being that India needs a strong monsoon.
The minister called upon gas producers to explore investment opportunities in the Indian market. With about 24,000 MW of stranded gas assets in the country, this is a huge and promising market as long as the prices are right and given the current Baltic index, he said adding: “I believe this is a viable proposition
