Billionaire Mukesh Ambani led Reliance Industries will sell its East-West Pipeline to Brookfield for Rs 13,000 crore. As part of the deal, Brookfield sponsored InvIT will acquire 100% equity interest in Pipeline Infrastructure Private Limited (PIPL), which owns and operates the pipeline. \u201cBrookfield has filed the preliminary placement memorandum, in terms of which India Infrastructure Trust, an InvIT set up by Brookfield as Sponsor and 90% investor, will invest Rs. 13,000 crore to acquire the East West Pipeline,\u201d Reliance Industries said in a press release. \u00a0 Outlining the details of the usage agreement after Brookfield\u2019s acquisition, Reliance Industries said that the reserved capacity has been reduced to 33 MMSCMD (Million Metric Standard Cubic Meter Per Day) against the 56 MMSCMD (Metric Standard Cubic Meter Per Day). Further, any unutilized capacity payment by RIL will be the difference between Rs 500 crore a quarter and actual revenue earned by PIPL. \u201cRIL will continue to be entitled to transport gas, either by itself or of any customers, free of cost against any outstanding unutilized capacity payments,\u201d RIL said. Also read:\u00a0Last day to grab GoAir offer: Domestic flights for as low as Rs 1,199; check details At the current approved final tariff of Rs. 71.66\/MMBTU, if the average volume of gas transported is 22 MMSCMD, RIL will not be liable to make unutilized capacity payments, said the statement. The next review of tariff in April 2020 will also consider upward revision to tariff arising from determination of lower revised capacity of the pipeline, RIL said. Interestingly, after taking into account the new investments in the upstream sector in the KG basin of the firm, and the growing LNG imports, ability to swap gas, the average volume expected to be transported through the pipeline is expected to be significantly higher compared to the current levels. \u201cRIL will be entitled to a significant participation in the net earnings of PIPL under the mechanism specified in the pipeline usage agreement. RIL\u2019s current investment in preference shares valued at Rs 4,000 crore to continue and will be converted into equity at the end of 20 years,\u201d the firm said. Further at the end of 20 years, RIL said that it has the right to acquire equity shares of PIPL held by the InvIT at an equity value of Rs 50 crore.