RNRL says will not press for future rights

Appearing before a bench headed by Chief Justice K G Balakrishnan, RNRL Advocate Mukul Rohtagi said, “I have no perpetual right. My right will come to an end after 28 mmBtu of gas per day for 17 years at US$2.34.”

When the government advocate said that according to the MoU the gas from future exploration will be divided between RIL and RNRL at 60 per cent and 40 per cent, Rohtagi said if there would be any further allocation it would be at the market value and there would be enough gas for every consumer in the fields of power and fertiliser.

The gas to be supplied by RIL to RNRL for the Dadri power plant is very small percentage of the total reservoir and it would be from two wells out of the 19 wells in the KG 6 basin, he said.
Rohtagi said RIL would be making a profit of Rs 75, 000 crore out of the KG-6 basin if the gas is sold at US$4.2 per unit. If the natural gas of 28 unit to RNRL and 12 unit to NTPC is sold at US$2.34, the profit will come down to Rs 30,000 crore.