India's Reliance to sell D6 gas at current price from April 1-govt source

Reuters

NEW DELHI, March 28 (Reuters) - Reliance Industries and its partners should continue to sell gas at current prices from its east coast block following a delay to a new pricing regime ordered by India's election authority, a government source said on Friday.

Reliance's five-year gas sales pacts with sectors including fertiliser and power will expire on March 31, requiring buyers to sign new contracts for supplies from the conglomerate's D6 block in the Krishna Godavari basin, off India's east coast.

"$4.2 (per million British thermal unit) will continue to be in force till the Code of Conduct is lifted," said the source, referring to rules restricting policy shifts before elections. India goes to the polls on April 7.

(Reporting by Nidhi Verma; Editing by Douglas Busvine)

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