Reliance Industries has sought a three fold rise in KG--D6 gas price from April 1, 2014, according to reports.
Earlier, the company wrote to A Giridhar, Joint Secretary (Exploration) in the Ministry of Petroleum and Natural Gas on Sep 6 proposing to price natural gas it produces from the Krishna Godavari basin block in Bay of Bengal, report says.
Reports stated that the company wants to price KG--D6 gas at 12.67% of JCC, or Japan Customs--Cleared Crude, plus USD 0.26 per million British thermal unit.
RIL also reported that it needs to "achieve financial closure in order to undertake further development activities in the block.