Reliance KG gas to be availbale to all sectors

Mumbai: Natural gas from the Reliance Industries-controlled KG block would be available to all private and public sector at a price not less than $4.20/mmbtu, which has been fixed by the Government, said Mr Mohan Parasaran, Additional Solicitor-General of India, while arguing in the RIL-RNRL case in the Bombay High Court on Tuesday.

The Government of India is an intervenor in the case; Mr Parasaran is counsel for the Government.

RIL is also fighting another suit against NTPC in the same court.

Arguing before the Division Bench in the RIL-RNRL case, Mr Parasaran said the price of $4.20 would also be applicable to all buyers of KG gas including NTPC as the decision has been taken by the Empowered Group of Ministers (E-GoM).

He also filed an affidavit on behalf of the Government, which states that the discovered price for natural gas from RIL’s KG basin has been approved by an E-GoM meeting of September 12, 2007 and that the price would be applicable to all sectors uniformly.