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The Times of India

Business

PTI

FOUND: Reliance sells cbm gas for over 23 hoec gets 25 - You Need To See This

Reliance GAIL Shell Madhya Pradesh New Delhi Reliance Industries

NEW DELHI: Reliance Industries has sold natural gas produced from a coalfield in Madhya Pradesh for over $23 to firms, including GAIL, GSPC and Shell, but its price discovery was beaten by smaller explorer HOEC, which sold half of its sales volume for over $25.

Reliance sold 0.65 million standard cubic metres per day (mmscmd) of gas from its coal-bed methane (CBM) block SP-(West)-CBM-2001/1 at a $8.28 per million British thermal unit premium over prevailing Brent crude oil prices, two sources with direct knowledge of the matter said.

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