RIL re-auctions gas in line with new norms

New Delhi: Reliance Industries Ltd (RIL) and its partner BP plc have re-launched an auction for 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 six 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.