Reliance Industries Limited and its partner BP plc have sought bids for the sale of natural gas from the eastern offshore KG-D6 block at a price linked to the rate at which liquefied natural gas (LNG) is delivered to Japan and Korea. The two partners invited bids for the sale of 6 mscmd of gas starting February 2023. Users such as city gas operators that convert gas into CNG for sale to automobiles and pipe it to household kitchens for cooking purposes, or power plants that use it to generate electricity or fertiliser units that use it to make urea, have been asked to quote a premium that they are willing to pay over the Japan Korea Marker price.
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