India Gas Solutions, the 50:50 joint venture of Reliance Industries and BP, set up to source and market natural gas in India, is looking to import gas into the country very soon. Speaking on the sidelines of Petrotech 2012, Alan Haywood, President, Downstream Gas & Head of Commercial Development, BP, said the company is evaluating the option of bringing gas into the country and will be taking action on this front.
Stating that the company is committed to sustainable gas supplies to India, Haywood said the gas price in the country should be such that it can stimulate investment. This is a pointer once again that company wants the price of domestic gas from the KG-D6 basin to be raised from its current level of $4.2 per mmbtu. Imported gas sells at levels much higher than the price at which domestic gas is currently capped until 2014. Haywood added that India was absolutely vital to the BP Group.