C. P. Jain (left) in New Delhi on Friday. (PTI)

New Delhi, April 8: National Thermal Power Corporation (NTPC) will foray into regassification to become self-sufficient in gas that powers its electricity generation projects like Kayamkulam.

The company will hold preliminary dialogue with many countries, which could be offered stakes in such joint venture projects for regassification.

NTPC has identified Australia, Iran, Malaysia, Saudi Arabia, Nigeria, Oman, Abu Dhabi, Bahrain, Yemen, Qatar, Egypt and Iraq for methane.

Announcing the financial results of the company, NTPC chairman and managing director C.P. Jain said, ?We feel that the market dynamics make our venture into regassification inevitable. Although the project is at an initial stage, a study would be undertaken to assess the necessary investments and other joint venture outlines.?

Jain said one reason for NTPC to examine the possibility of entering the area of regassification was the demand by Gail (India) Ltd to take gas from the Panna and Tapti plants at a higher cost.

?Our agreement with Gail is for supply through the HBJ pipeline,? said Jain.

The public sector power generation company has registered a net profit at Rs 5,292 crore during 2004-05 against Rs 5,260 crore during 2003-04.

The revenue from electricity sale was Rs 22,199 crore during 2004-05 against Rs 18,851 crore during 2003-04. The company also announced a 100 per cent recovery of outstanding and current dues during the financial year.