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Reliance gas: GAIL, IGL walk away with Reliance gas; bid at USD 11 per million BTU

GAIL (India) Ltd and Indraprastha Gas Ltd emerge as top bidders in Reliance Industries Ltds recent e-auction of coal-bed methane gas. The auction, held for 0.90 million standard cubic meters per day, saw GAIL acquiring 0.63 mmscmd and IGL picking up 0.14 mmscmd. Bidders offered premiums of up to USD 11 per million British thermal unit, based on 12.67% of the Brent crude oil price. The gas supply contracts span 1 to 2 years from April 1.
Madhya Pradesh United Kingdom Reliance Industries Ltd Petroleum Planning Natural Gas Corporation Indraprastha Gas Ltd

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