Reliance Industries Cuts Base Price For New Gas From KG-D6 After Customer Protests

Bloomberg Quint | Nov 10, 2019 at 11:59 AM
  • Reliance Industries Ltd. has cut by about 7 percent the minimum price it is seeking for the natural gas it plans to produce from newer fields in the Bay of Bengal KG-D6 block after key customers such as fertiliser plants protested over the high base price.
  • Reliance and its partner BP Plc of the U.K. is in the market seeking bids from potential users for the 5 million standard cubic metres per day of natural gas they plan to produce from the R-Cluster Field in KG-D6 block from mid-2020.
  • R-Cluster will have a peak output of 12 million standard cubic meters per day while Satellites, which are supposed to begin output from mid-2021, would produce a maximum of 7 mmscmd.