The consortium of Reliance Industries and BP is auctioning natural gas from its KG fields at a crude-linked floor price, which at current rate, exceeds the government-set ceiling. This would ensure that winners in the auction pay the ceiling price for gas.
The consortium has offered to sell 4 million metric standard cubic meters a day (mmscmd) of natural gas in an e-auction slated for November 21, according to the bidding document. The supplies would start from December 1.
