RNRL writes again to RIL for talks on gas supply

Anil Ambani Group company Reliance Natural Resources (RNRL) is understood to have written another letter to Reliance Industries (RIL) to find a way for an agreement for gas supply by the latter.

This is the second letter in as many days RNRL is shooting off to Mukesh Ambani-led RIL. However, no comments could be obtained either from RIL or RNRL.

Earlier on June 23, sources had said RNRL had written a letter to RIL seeking time and date for talks on the pact.

Meanwhile, RIL today said it is still evaluating options for future course of action.

RIL President and CEO (Oil and Gas) PMS Prasad, who met Petroleum Ministry officials to discuss under capacity production from the company's KG basin fields, said: "We have time till July 15 to decide... We are still evaluating our options."

The Bombay High Court had on June 15 given the two companies a month's time to work out a firm gas volumes, price, timelines and other commercial details for sourcing the fuel from Krishna-Godavari basin fields.

The Bombay High Court on June 15 ruled that RIL should honour its commitment in the family split agreement to supply gas to RNRL. The terms, as per the MoU which split the Dhirubhai Ambani empire in 2005, were to be based on RIL's bid for NTPC tender.

The price in NTPC tender was $2.34 per million British thermal unit (mmBtu), 44 per cent lower than government approved rates of $4.20 per mmBtu.