Editor’s Note: This column is part of a regular series by industry veteran Brad Hitch for NGI’s LNG Insight dedicated to addressing the complexities of the global natural gas market.

When the Republic of India (ROI) embarked upon economic reform in the early 1990s, one of its highest profile moves was to permit the Dabhol Power Company (DPC), a partnership between Enron Corp., Bechtel Corp. and General Electric Co., to develop a 740 MW power plant on the west coast of India.  

The project became mired in legal and cost problems, and its commercial terms had to be completely restructured in 1997.  

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When the dust settled on the...