At current price, the lowest price for the 5.5 mmscmd of gas that RIL-BP are auctioning comes to near USD 6.5 per mmBtu. But they will be entitled to a maximum of USD 3.62 per mmBtu ceiling fixed by the government for a six-month period to September 30.
Reliance Industries Ltd and its partner BP Plc of UK have sought bids for sale of 5.5 million standard cubic meters per day of additional natural gas that will be available for sale from their eastern offshore KG-D6 block. The e-auction is slated for April 23 and the gas supply will start from late April or early May, according to the tender document. Bidders will have to quote a price linked to Platts JKM (Japan Korea marker), the liquefied natural gas (LNG) benchmark price assessment for spot physical cargoes. The lowest bid that can be placed is JKM minus USD 0.3 per million British thermal unit. The highest acceptable bid would be JKM plus USD 2.01 per mmBtu.
Reliance Industries Ltd (RIL) and its partner BP Plc of United Kingdom (UK) have sought bids for sale of 5.5 million standard cubic meters per day of additional natural gas that will be available for
Reliance-BP seek buyers for 5 5 mmscmd gas from KG-D6 indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Cairn Oil & Gas seeks bids for gas from Rajasthan block
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Cairn Oil & Gas seeks bids for gas from Rajasthan block
PTI / Feb 15, 2021, 20:15 IST
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(Representative image)
NEW DELHI: Mining magnate Anil Agarwal s Vedanta Ltd on Monday invited bids for the sale of natural gas from its prolific Rajasthan block at rates equivalent to the price of imported LNG from the spot market or Brent oil price.
Cairn Oil & Gas, Vedanta s oil and gas arm, produces about 3.5 million standard cubic meters per day of gas from its largely oil-bearing block in Rajasthan, the firm said in a notice.
The output is being ramped-up to more than 5 mmscmd.