India - Gas Flaring Reduction Project

DJv~-. -S II-/V Document of The World Bank FOR OMCIAL USE ONLY Report No. P-5536-IN leport Nu. H- Th.sfX IN ]FL JIAK / X~ AI itb .' 7 ';4TV? MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN IN AN AMOUNT EQUIVALENT TO US$450 MILLION (WITH THE GUARANTEE OF GOVERNNENT OF INDIA) TO THE OIL AND NATURAL GAS COMMISSION (ONGC) FOR A GAS FLARING REDUCTION PROJECT IN INDIA JUNE 5, 1991 This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  CURRENCY EQUIVALENTS (As of January 15, 1991) Currency unit = Rupees (Rs) R 1.00 = US$ 0.051 (approx.) US $1.00 = Rs 19.43 WEIGHTS AND MEASURES 1 Million cubic meters of gas per day (MMCMD) 37 million cubic feet of gas = 6,500 barrels of oil 1 Btu (British thermal unit) = 0.252 kilocalories (Kcal) 1 Ton of oil equivalent (toe) = 10 million kilocalories ABBREVIATIONS AND ACRONYMS ADB - Asian Development Bank HBJ - Hazira-Bijaipur-Jagdishpur gas pipeline GAIL - Gas Authority of India Ltd. GOI - Government of India J-EXIM - Export-Import Bank of Japan km - kilometer LICB - limited international competitive bidding LPG - liquefied petroleum gas MMCMD - million cubic meters per day ONGC - Oil and Natural Gas Commission FISCAL YEAR April 1 - March 31  FOR OFFICLUL USE ONLY INDIA GAS FLARTNG REDUCTION PROJECT Loan and Project Summary Borrower: Oil and Natural Gas Commission (ONGC) Guarantor: India, Acting by its President. The Government of India (GOI) would charge a guarantee fee of IS p.a. on the outstanding amount of the Bank Loan. Amounts US$450 million equivalent Terms: 20 years, including five years of grace, at the Bank's standard variable interest rate. Financing Plan: Local Foreign Total