Reliance Industries may accelerate natural gas production after India’s Supreme Court said the fuel should be sold at the government-approved price.
Sanford C Bernstein analyst Neil Beveridge was quoted by Bloomberg as saying that the firm may start production from new areas in the KG-D6 block by 2014, increasing the field’s peak output to 120 million cubic metres a day.
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Reliance’s currently has about 80 million cubic metres of peak output from KG-D6 in the Bay of Bengal, India’s biggest gas field.
The increase in output from the KG-D6 field would take place after the regulator approves the development plan, according to Beveridge.
