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Mumbai, July 31 RIL wants to put a cap on the liability for the gas it would like to supply to the Reliance Natural Resources Ltd (RNRL) from the KG basin gas field, said Mr Harish Salve, Senior Counsel for RIL while arguing the case between RIL and RNRL over sharing of natural gas for the gas field.

Mr Salve said that RNRL does want not to cap the liability. In the event of interruption of gas supply, RIL will have to pay for it. By not having a cap on the liability, RNRL virtually will get guaranteed gas price.

He said that RNRL is treating the Reliance family demerger scheme as a guarantee to supply 28 mmscmd of gas.

The demerger scheme never mentions guarantee of supply. Gas production and power plants follow different timelines and the Gas Supply Master Agreement (GSMA) is the bridge.

There is nothing inherently unreasonable in what RIL has proposed as part of GSMA, he said.

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