The Acute Scarcity Of Natural Gas And High Cost Of Imported LNG Have Taken A Toll On Essar Energy's Power Business, Forcing The Company To Take The Decision To Convert Two Gas-Fired Plants At Hazira And Bhander In Gujarat Into Coal-Based Units. In A Press Release, The Company's CEO Naresh Nayyar Said, "These Plants Were Commissioned On APM Gas, But As There Is No Availability Of Either APM Gas Or Allocation From KG-D6, We Have Been Using Costly LNG At An Average Rate Of $12-18 For The Past 2-3 Years, Which Is Becoming Uneconomical. So, We Will Be Switching To Coal. The Full Conversion Will Take Three Years,” Essar Energy Is An Indian-Focused Energy Company With Assets In The Existing Power And Oil And Gas Businesses.
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India
Energy,Energy
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