Reliance eyes JCC-based pricing for CBM

摘要

Mumbai-India's Reliance Industries Limited has proposed selling coalbed methane based on a formula linked to the Japan Custom Cleared, or JCC, crude price-the first time an Indian CBM producer has offered such a pric- ing formula. RIL is the operator of the Sohagpur (West) and Sohagpur (East) CBM blocks in the central Indian state of Madhya Pradesh. The company is targeting to begin production from the blocks in the second half of 2014 and has sought bids from customers for five years from the start of production, according to an advertisement post- ed by the company in the local press February 3. RIL expects peak production of 3.5 million cubic meters/d from the blocks.