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RIL Can’t Sell Gas Below $4.2: Govt

  •   Sat, Nov 15 2008 01:42:56 PM

TNN

Mumbai, Nov 15: The central government has declared that it can regulate the contract between Reliance Industries Ltd (RIL) and Reliance Natural Resources (RNRL) which belongs to Anil Ambani. Government said RIL can not sell Krishna Godavari basin gas at a price less than $4.20 per million British Thermal Units, and without its approving the price formula.

In an affidavit filed before the Bombay High Court, S M Sunadaram, undersecretary, ministry of petroleum and natural Gas, said, ‘‘Sale of gas at a price less than $4.20 per million BTU is not envisaged as per the Empowered Group of Ministers' decision taken in accordance with Production Sharing Contract (between government and RIL)." 

  

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Title: RIL Can’t Sell Gas Below $4.2: Govt



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