Essar sells CBM gas to GAIL using Reliance formula

摘要

Essar Oil has sold its entire production of coal bed methane (CBM) gas from a West Bengal block to state-owned GAIL India Ltd. using the same formula that Reliance Industries Ltd. (RIL) used for pricing of its CBM. GAIL will buy 2.3-mn standard cubic metres per day of CBM that Essar Oil and Gas Exploration and Production Ltd. (EOGEPL) will produce from its Raniganj block in West Bengal for $7.1 per million British thennal unit (mmBtu).