Reliance Industries Ltd and its partner BP Plc of UK have sought bids for sale of 5.5 million standard cubic meters per day of additional natural gas that will be available for sale from their eastern offshore KG-D6 block.
The e-auction is slated for April 23 and the gas supply will start from late April or early May, according to the tender document.
Bidders will have to quote a price linked to Platts JKM (Japan Korea marker), the liquefied natural gas (LNG) benchmark price assessment for spot physical cargoes.
The lowest bid that can be placed is JKM minus $0.3 per million British thermal unit. The highest acceptable bid would be JKM plus $2.01 per mmBtu.
