Reliance suspends gas auction
The electronic tender for the sale of 6 million standard cubic meters per day of gas was to be held on January 18
Reliance Industries Ltd and partner bp plc suspended a planned auction for the sale of natural gas from its KG-D6 block on Monday following changes to gas trading rules, the firms said in a notice.
The electronic tender for the sale of 6 million standard cubic meters per day of gas was to be held on January 18.
“Notice is hereby given that the current bidding process is suspended until further notice,” the two firms said in a notice Monday.
He did not disclose the reason for the suspension, but industry sources said this is because the government introduces new rules limiting the margin that could be charged on the sale of natural gas.
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