'RIL won't sign gas supply pact with RNRL'

Written by: Super Admin
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Mumbai, Jul 1: Mukesh Ambani-led Reliance Industries Ltd (RIL) on Tuesday, Jun 30 rejecting the offer of gas supply pact told to Anil Ambani's firm RNRL that it would not sign any gas supply agreement without the approval from the government.

RIL in statement said, "We have been advised that where as there is lack of clarity on this aspect in the judgment, our position remains we cannot sign any agreement without the approval of the Government on price, quantity and tenure."

An RNRL spokesperson said, "The aspects of price, quantity and tenure are adequately covered in the judgement and there is no ambiguity in this regard."

"Aspects such as price, quantity and tenure to be incorporated into any agreement or any arrangement would be subject to approval of government of India," RIL said.

Earlier, the Bombay High Court in its verdict on Jun 15 on the row gave the two companies a month's time to work out firm gas volumes, price, time lines and other commercial details for sourcing the fuel from Krishna-Godavari basin fields.

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