Reliance Industries (RIL), faced with a glut of natural gas from its Krishna Godavari D6 field, got much needed relief on Monday with the government announcing additional allocation of 51.6 million metric standard cubic metres per day (mmscmd) of the fuel.
Nearly 70% of this has been to the power sector. The move, finalised at the meeting of the ministry of petroleum and natural gas on October 27, takes the total allocation to 91.6 mmscmd from the current 40 mmscmd.
Of the fresh allocation, 20.70 mmscmd is on a firm basis and 30 mmscmd on a fallback basis. The allotment to power sector is 24.3 mmscmd. Besides, captive power plants have been allocated 10 mmscmd on a fallback basis, taking the total share of the sector to 34.3 mmscmd.
Power plants were already allocated 18 mmscmd from the initial D6 production of 40 mmscmd. About 1.9 mmscmd has been allocated to the petrochem sector -- and the whole thing goes to RIL. According to the stand taken by the government and RIL in the court, RIL has no right to find customers for its gas on its own and has to await government allocation.
As a result, RIL had been unable to find buyers for a large part of the gas which could be produced from its KG basin block. The ministry has also been given the right to allocate gas that remains unutilised by other sectors. Interestingly, the power sector has not been able to utilise the current allocation of 18 mmscmd itself due to various regulatory and logistical reasons.
Gas from D6 should be supplied on firm basis to all the existing gas-based power plants, excluding RGPPL (Ratnagiri Gas & Power Pvt Ltd) and NTPC's plants in Kawas and Gandhar, so as to enable the plants within Andhra Pradesh to operate at 75% plant load factor and those outside Andhra Pradesh to operate at 70% PLF.
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| Company Name | CMP |
|---|---|
| Reliance Industries | 1248.60 |
| Indian Oil Corp. | 131.00 |
| BPCL | 286.70 |
| HPCL | 362.40 |
| MRPL | 136.80 |
| View more.. | |
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