RIL flays charge of artificial gas crunch | business | Hindustan Times
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RIL flays charge of artificial gas crunch

Mukesh Ambani’s RIL on Sunday hit out against a charge by the ADAG in a media campaign that it was producing less gas from the Krishna-Godavari basin to create an artificial scarcity.

business Updated: Aug 30, 2009 20:59 IST
HT Correspondent

Mukesh Ambani’s Reliance Industries Ltd (RIL) on Sunday hit out against a charge by the Anil Dhirubhai Ambani Group (ADAG) in a media campaign that it was producing less gas from the Krishna-Godavari basin to create an artificial scarcity.

In a letter dated August 28 to the Petroleum Ministry, RIL said such a measure would be “disastrous not only for the project but for the country as whole.” RIL said it was, in fact, ramping up production to meet demand.

“It would be difficult to gauge the sanity of any developer who would deliberately set upon this path,” RIL said.

An ADAG spokesman said the RIL letter “conclusively demonstrates that customers are not willing to buy gas at high prices,” without elaborating.