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Our Bureau

New Delhi, Sept 5

Reliance Natural Resources Ltd (RNRL) on Wednesday requested the Union External Affairs Minister, Mr Pranab Mukherjee-headed empowered group of Ministers (EGoM) on gas pricing that while granting approval for Reliance Industries Ltd’s proposed gas pricing formula, it may be clarified that the nod was subject to the final decision of the Bombay High Court in this matter.

In a letter to the EGoM Chairman, the company has pointed towards the dispute between RIL and RNRL and orders of the High Court restraining RIL from selling or creating any third-party rights over the initial 81.47 mmscmd gas production from Krishna Godavari D6 block. The company has said that RNRL has filed an application before the High Court for enforcement of the gas supply agreement between RIL and RNRL.

The High Court has issued two interim orders which are operative and in force. As per the most recent order, RIL is restrained from creating any third-party interests or rights, and/or entering into any contracts and/or use or supply of gas to any third parities, as it has already committed the initial gas from the block to NTPC, RNRL and for its captive use.

“It is clear that since the initial production is 80 mmscmd only, there is no gas available that can be dealt with by RIL. Accordingly, it is presently an academic exercise for RIL to be seeking approval for its proposed gas pricing formula, and to be engaging the Minister of Petroleum and Natural Gas and the EGoM for this exercise,” the company said.

More Stories on : Corporate Disputes | Petroleum | Courts/Legal Issues | Reliance Industries Ltd

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