Reliance Industries Ltd and its partner BP plc of the UK have sought bids for the sale of natural gas from the eastern offshore KG-D6 block at a price linked to the rate at which LNG is delivered to Japan and Korea.
The two partners invited bids for the sale of 6 million standard cubic meters per day of gas starting February 2023, according to the tender document.
Users such as city gas operators that convert gas into CNG for the sale to automobiles and pipe it to household kitchens or power plants that use it to generate electricity or fertiliser units that use it to make urea, have been asked to quote premium they are willing to pay over the JKM price.
