Reliance Industries Ltd and its partner BP plc have re-launched an auction for the sale of natural gas from their eastern offshore KG-D6 block after incorporating the government’s new marketing rules to give CNG-selling city gas companies first priority over supplies.
Reliance and its partner BP Exploration (Alpha) Ltd(BPEAL) will sell 6 million standard cubic meters per day of gas in an e-auction planned for April 3, a tender notice said. The price is indexed to the global LNG marker, JKM but will be subject to the government-notified ceiling price.
The partners had originally planned the auction in January but days before that the ministry of petroleum and natural gas, on January13, published new rules for the sale and resale of gas produced from discoveries in the deep sea, ultra-deepwater and high-pressure-high temperature areas.
