BL reported that ONGC will supply 0.5 million standard cubic meters a day of gas for a period of 15 years to North Eastern Electric Power Corporation Limited’s gas based power plant coming up at Monarchak in Tripura.

NEEPCO officials said that "This is the first agreement to be signed by ONGC at market price in Tripura." They added that NEEPCO plans to produce 104 MW power by 2010 end from this combined cycle power plant.

Officials said that the term sheet, which was signed on March 25th 2008, has now been regularized with this agreement. They added that the first drawl is slated by September 25th 2010, within 30 months from the date of signing of Term Sheet.

ONGC shall be transporting gas from its various new fields in Tripura.