Government Asks for Pause in RIL's Arbitration Effort in Gas Hike Delay

摘要

Reliance| cliance Industries Ltd's (RIL) bid to push for an linearly gas price hike through international arbitration has pushed the government to respond quickly. The oil ministry has requested the chairman of the arbitral panel, former Australian judge Michael Hudson McHugh, not to initiate proceedings till the government cross-checks all case documents. Top government sources said the ministry has sought copies of all communication submitted to McHugh by Reliance and its partners in the Andhra offshore gas field — UK energy major BP pic and Canada's Niko Resources — challenging a $1.8 billion penalty slapped by the previous government for failing to meet gas production target from KG-D6 block.