Reliance Industries Ltd and its partner bp of the UK have offered for auction 6 million standard cubic metres per day of more gas from their KG-D6 block as the partners bring the deepest field in the block to production.
The two partners will on May 19 e-auction 6 mmscmd of gas, whose supplies will start from June 1, according to a tender document.
Bidders have been asked to quote a variable ‘v’ over and above the JKM price, the spot market benchmark for liquefied natural gas (LNG) delivered to Japan and South Korea.
The starting bid price is V = USD -0.06 (minus 0.06) per mmBtu.
