Finally, Reliance Industries on Tuesday dashed off a maiden response to Reliance Natural Resources (RNRL) saying that the company cannot sign any agreement without the approval of the government on price, quantity and tenure.
As reported by FE in Tuesday?s edition, RNRL had sent out three letters to RIL for starting a dialogue after the Bombay high court?s June 15 order asking RIL to supply K-G D6 gas of 28 mmscmd to RNRL at $2.34 per mmbtu for 17 years.
The high court had given a month?s time up to July 15 to arrive at a fresh agreement in this regard. However, RIL preferred not to attend the meeting which was scheduled to take place on Monday.
In its response, RIL noted, ?During the hearing in the appeal in the Hon?able Bombay High Court it was our stand that amongst other things the aspects of gas supply, aspects such as price, quantity and tenure to be incorporated into any agreement or any arrangement would be subject to approval of Centre.We have been advised that where as there is lack of clarity on this aspect in the judgment, our position remains we cannot sign any agreement without the approval of the government on price, quantity and tenure. We are still in the process of legal consultation and shall revert.?