Vedanta seeks minimum $19 for gas from Gujarat block
Billionaire Anil Agarwal’s Vedanta Ltd is seeking a minimum $19 price for natural gas produced from a field off Gujarat as it looks to cash in on the recent surge in global energy prices.
The firm has called for bids for the sale of 0.25 million standard cubic meters per day of gas produced from CB/OS-2 block located in Suvali, Surat district of Gujarat, according to Vedanta’s tender document.
Bids have been sought based on the average monthly price of Brent crude oil and Platts’ West India Marker (WIM) for liquefied natural gas (LNG) shipments.
The sale price will be lower of Platts LNG WIM + 1.0 or a premium over 16.67 per cent average Brent crude oil price, the tender document said.
