Billionaire Mukesh Ambani’s Reliance Industries has picked up two-thirds of its own new gas from KG-D6 block that was auctioned under new rules with state-owned GAIL and Royal Dutch Shell getting smaller volumes, sources said.
Reliance and its partner UK’s BP Plc on Friday auctioned 7.5 million standard cubic metres per day of incremental gas from the R-series gas field in the KG-D6 block, benchmarking it to a gas marker for the very first time in the country.
The auction was held under the liberalised price discovery rules notified by the government that allowed affiliates of the gas producer to bid and buy natural gas.
