RNRL may intervene in RIL-NTPC gas supply case
Reliance Industries has been asked to supply gas at a price 44% lower than rates approved by the government.
By PTI |
MUMBAI: Close on the heels of the Bombay High Court's gas supply judgement in its favour, Anil Ambani group firm Reliance Natural Resources Ltd is all set to intervene in another case related to gas supply between Mukesh Ambani-led RIL and state-run power producer NTPC.
"RNRL will intervene in the RIL-NTPC High Court matter," a source familiar with the matter said.
Earlier this week, the Bombay High Court asked RIL to honour a 2005 family agreement to supply 28 million cubic meters per day of gas from its Krishna-Godavari basin fields at $2.34 per mmBtu for 17 years to RNRL.
As per the ruling, RIL has been asked to supply gas at a price 44 per cent lower than rates approved by the government.
The price for RNRL was derived from the 2004 agreement between RIL and NTPC.
However, this RIL-NTPC contract is also a subject matter of case before another bench of the Bombay High Court as RIL has said that the contract was not concluded.
"RNRL will intervene in the RIL-NTPC High Court matter," a source familiar with the matter said.
Earlier this week, the Bombay High Court asked RIL to honour a 2005 family agreement to supply 28 million cubic meters per day of gas from its Krishna-Godavari basin fields at $2.34 per mmBtu for 17 years to RNRL.
As per the ruling, RIL has been asked to supply gas at a price 44 per cent lower than rates approved by the government.
The price for RNRL was derived from the 2004 agreement between RIL and NTPC.
However, this RIL-NTPC contract is also a subject matter of case before another bench of the Bombay High Court as RIL has said that the contract was not concluded.
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