CNBC gas arguement in thier favor-20090615-115849

  • CNBC gas arguement in thier favor-20090615-115849 

Vaibhav R has transcribed this tape in a comment below. Please crosscheck.

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    1 Response to “CNBC gas arguement in thier favor-20090615-115849”


    1. 1 Vaibhav Rathi December 4, 2010 at 10:28 pm

      Ring Ring
      A female voice: You See Manoj,
      A male voice (manoj) : hmm
      Female voice: Ashu has given a very interesting argument, he was on the air with lata just now. Ofcourse sajid gets it completely wrong, and I am sure he is completely bought out, right
      Manoj: hmm
      Female Voice: The thing is.. he has raised an argument.. he has raised 3 points. You see..
      Manoj: hmm
      Female Voice: he has raised.. first he is coming at it from the point of view that listen my god .. you know..you may have .. he has coming at the same price of duel pricing.
      Manoj: hmm
      Female voice: He is saying that this is a natural resource all that, he is saying all that, right
      Manoj: hmm
      Female Voice: Second point, he is saying, I am the regulator, you are on a cost plus.
      Manoj: hmm
      Female Voice: You have multiple companies, where you are saying.. I have RnR, RnR will supply to XY, XY has RInfra, Infra has got this.. you know
      Manoj: hmm
      Female Voice: And therefore you have … where is your offtake.
      Majoj: hmm
      Female Voice: there is a cost plus formula, that exist as far as regulator is concerned. Are you really benefiting by this
      Majoj: hmm
      Female voice: if you are saying that I am charging a 2.3 therefore you will have a cost plus formula as far as the consumer is concerned, you cannot make hefty profit, no
      Manoj: hmm
      Female Voice: You’ll pass that back to the consumer, that’s the second thing. Then he says the third point, where are your power plants.
      Manoj: hmm
      Female Voice: You tell me where are your power plants, if RIL tomorrow says okay, I am producing this… aaaaaa…..from tomorrow I am giving it to you..
      Majon: hmmm
      Female Voice: Where are you gonna put it,
      Manoj: hmmm
      Female Voice: you are not allowed to trade.
      Manoj: hmm
      Female Voice: that’s the third point. The fourth point is he is …uuu .. he has come out is that I am a share holder of RIL.
      Manoj: hmm
      Female Voice: I am ..why…(inaudible) he is gonna go back to the government and say look my shareholder are saying that If I have to give this and this is gonna make me lose so much money. Given that the government has said that the price is 4.2, why should I subsidize something like this.
      Manoj: hmm
      Female Voice: I am an operator, I don’t own this gas.
      Manoj: hmm
      Female Voice: You know I have spent $ 7bn in .. in doing this. I don’t wanna do it.
      Manoj: hmm
      Female Voice: You give me my money back, plus damages.
      Manoj: hmm
      Female Voice: He says that government will be forced to take (inaudible). He says that is you know… lets not weed into this. I think the HC has just not understood it.
      Manoj: hmm
      Female Voice: has gone into a complete different argument.
      Manoj: hmm
      Female Voice: but the prospective is right, naa. He is coming and … he is saying where are you going to put the gas, please tell me.
      ( Silence)
      Female Voice: ye CNBC pe abhi aa raha hia (This is coming on CNBC right now) Saji ko usne ek-ek question me usne bole. Sajid, what is the current pricing world wise.. sajid . what is it that you are .. please tell me, sajid said .. well right now its about $6. He says that fine! You are telling me that just because two brothers are getting to an argument, India should be deprived of all this. Usne ye argument diya, lata ne.
      Manoj: hm
      Female Voice: I still think that there is scope for you to brief informally on these 3-4 points, very critically. Ke tumhara regulator ka ek cost plus formula hota hia. I don’t know how the path..(inaudible) but its an .. what he is saying is this ppaa.( inaudible, maybe tempered). therefore the benefit will have to go to the consumer
      Manoj: hmm, theek hia.
      Female Voice: So there are two points to this. One point is, can there be duel pricing. Two is, I as a share holder, why should I pay out of my pocket. For something that the government needs to decide, I am only the operator for this. And thirdly, If you want to open up the prices than you open up completely. Huunh
      Silence
      Female Voice: Kya hua
      Manoj: han theek hian ..
      Female Voice: Kya hua ..
      Manoj: nahin nai ..
      Female Voice: What happened
      Manoj: nothing nothing..
      Female Voice: Acha Manoj, some days pehle JP noida ( not clear) ne humko Friday Monday ke liye bola tha. Tu humne pro and cons ka nahin bataya tha? Ki kya hoga..
      Manoj: Nahin… wo to ready hain bahut, ye sab argument jo bolte hain wohi hum log kar rahe hian naa…
      Female Voice: Nahin nahin, humne decide nahin kya that ki, if we win what the scenario will be. What should our position will be, and if we lose what our position will be.
      Manoj: See we never expected one sided judgement. ( voice fades away) .. we were never told … ( inaudible)

      Female Voice: haan .. but listen but I don’t understand what are you guys doing at court.
      Manoj: We are feeding in these thing only.. the duel pricing .. the fact that where is the power plant for them to take the gas. ..(inaudible)
      Female Voice: No but listen, I do think that …
      Manoj: (inaudible)
      Female Voice: haan, because
      Manoj: (inaudible)
      Female Voice: haan, where we will put the gas, naa. We are not allowed to trade.
      Manoj: So that we are feeding into the minds …(inaudible)
      Female Voice: Another thing Manoj, very critical. When does these 17 years starts from?
      Manoj: haann
      Female Voice: So if these 17 years are … aaa. Starting from tomorrow, then to nahin ho sakta naa..
      Manoj: hmm
      Female Voice: he is on his case, we will get 12 MMS CDA.. MMS…umm.CMD, if NTPC forgoes gas from RIL. Woh to 12+28 ki baat kar raha hian naa. So where is he gonna put it.
      Manoj: Ye to .. for to woh bol raha hia ki 40% of all gas is ours.. that is his later statement
      Female Voice: haan
      Manoj: (inaudible)… that the MoU states that 40% of all gas reserve is mine(d).
      Silence
      Female Voice: haan … haan.. so we have to give this messaging. I hope somebody at the office is copying what the messaging is.
      Manoj: yeah yeah .. they are …they are sending us the update everyday.
      Female Voice: No no, but can you just make sure that the updates are going to clients. He need to know what they are saying naa. You and I don’t need to know this.
      Manoj: raja ko bhej do
      Female Voice: Raja, MM.. uumm.. you know quickly do a quick mail that these are the following statement that are being made by other side.
      Manoj: ok ok
      Female Voice: And you can talk about the counter argument that is coming in, and please advice what do we go with.


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