GAIL India, Essar Steel and Adani Group have bought the majority of natural gas from Reliance Industries' newer fields in the KG-D6 block at an indicative price of $5.04 - 5.16 per unit.
Essar Steel picked up 2.25 million standard cubic meters per day or about half of the available volumes in the day long auction conducted on November 15. Gujarat State Petroleum Corp (GSPC) picked up 1.2 mmscmd while Adani Group, Mahanagar Gas and GAIL bought 0.3 mmscmd each.
GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.
