Mukesh Ambani's Reliance Industries, not partners, to get revised price for gas

Mar 21 2014, 14:29 IST
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Only RIL is allowed to sell KG-D6 gas at the revised price of nearly $8.4 per mBtu from April 1, while its two partners would continue to get current price of $4.2 per mBtu. Only RIL is allowed to sell KG-D6 gas at the revised price of nearly $8.4 per mBtu from April 1, while its two partners would continue to get current price of $4.2 per mBtu.
SummaryProposed increase in natural gas prices from early next month would be available only to Reliance Industries.

the ministry gave the option that they be given the increased gas price provided they furnish bank guarantee against their share of extra revenue.

Indian Express Power List: Mukesh Ambani at no 19

The ministry has also proposed that KG-D6 gas buyers, mainly state-run fertiliser companies, be directed to deposit the separate funds directly into the RIL account and a government-nominated account.

If it is proved that RIL deliberately produced less gas from KG-D6, the bank guarantee will be encashed depriving RIL of the incremental revenue.

BP and Niko, which have maintained that they are party to the arbitration and RIL has represented them as an operator representing the interests of all the KG-D6 constituents, are likely to file separate arbitration notice.

RIL KG-D6 output drops again

After two months of increase, gas production from Reliance Industriesí KG-D6 block has again started to drop. Output has dropped to 13.28 mmscmd in March, the DGH said in a report to the oil ministry.

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