Reliance Industries to start coal-bed gas sales in May as prices freed

• Posted in OilGas
• on April 13, 2017
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Billionaire Mukesh Ambani-owned Reliance Industries Ltd will start selling coal-bed methane from its central India block next month after the government allowed producers freedom to set prices, people with knowledge of the matter said. The company will begin with daily sales volumes of 400,000 cubic meters of gas from coal seams in Sohagpur block in Madhya Pradesh state and gradually increase the volumes, said the people, who asked not to be identified citing company rules. Reliance has sought bids from potential buyers to be submitted by April 24, they said.
With this, Reliance becomes the third supplier of gas produced from coal seams after Great Eastern Energy Corp. and Essar Oil Ltd India’s federal government last month gave marketing and pricing freedom to producers of coal-bed methane to sell the fuel within the country as it seeks to attract investments to boost production. The country seeks to increase the share of natural gas in its energy mix to 15 percent by 2020 from 6.5 percent now. Joe Montana Authentic Jersey

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