Saturday, June 20, 2009

Govt role in gas dispute crucial; can't lose revenue: Deora

Petroleum Minister Murli Deora
Asserting that nothing could be done on the K-G gas dispute without the active involvement of the govt, Petroleum Minister Murli Deora said that warring Ambani brothers had met him after the Bombay High Court ruling on the row on 15th June.

The government wants early solution to the gas dispute as it cannot afford to lose revenues, Deora told reporters in Mumbai on Friday



"I am in touch with them (Ambanis), the brothers are "not very friendly, unfortunately," he added.


The Bombay High Court on Monday asked Mukesh Ambani-led Reliance Industries (RIL) to supply gas from the K-G basin at USD 2.34 mmBtu to younger brother Anil Ambani group firm Reliance Natural Resources (RNRL).


A division bench of Justices J N Patel and K K Tated asked the two companies to enter into a fresh "suitable agreement" within a month.


Meanwhile, RNRL has filed a caveat before the Supreme Court to preclude the chances of an ex parte (in the interest of one party only) being passed against it on the gas sharing deal it had signed with Mukesh Ambani-led RIL.



"We are trying our best to find a solution to the gas dispute. In no way can the government afford to lose the money. We need the revenues from K-G gas for development of the country," Deora said.


He, however, declined to divulge details of his meetings with Ambanis.

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