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India s Reliance claims it buys spot LNG at $9/MMBtu for its plants
[10/21/2009 9:18:28 AM] 

India's Reliance Industries, which operates India's biggest gas field- Krishna Godavari basin D-6 field said today that it is paying over $9/MMBtu for buying liquefied natural gas from spot market as the government has not allowed use of fuel pumped by it for captive use, a company official said.

"We are forced to pay more than what our gas would have cost us," RIL President of Oil and Gas Business P M S Prasad told reporters in New Delhi on Wednesday.

RIL buys about 10 million standard cubic meters per day of regassified-LNG from Petronet LNG Ltd and Royal Dutch/Shell - the nation's only two LNG importers, for use in its refineries and petrochemical plants.

"We need about 15 mmscmd (of gas). We get some gas from Panna/Mukta and Tapti fields (in western offshore) and the rest has to be met from spot LNG purchase," he said.