Categories: BusinessNews

Gail and IGL made a big deal with Reliance, acquired most of the coal seam gas

Gail-IGL Deal With Reliance: Public sector gas company GAIL (India) Limited (GAIL) and the country’s largest city gas operator Indraprastha Gas Limited (IGL) have acquired most of the coal seam gas in the e-auction organized by Reliance Industries Limited. According to the news agency, Reliance had earlier this month issued an e-mail for the sale of nine lakh standard cubic meters of gas per day produced from coal-bed methane (CBM) block SP (West)-CBM-2001/1 in Madhya Pradesh. Auction was held.

Gas will be available from April 1st

According to the company, users were asked to submit bids in which they were willing to pay more than 12.67 percent of the dated Brent crude oil price. Two sources with knowledge of the matter said that in the auction, GAIL and IGL offered a maximum price of US $ 11 million per British thermal unit. He said that GAIL won 6.3 lakh MMSCMD gas in the auction, while IGL won 1.4 lakh MMSCMD gas. This e-auction was held on February 2. Under the contract, gas supply will be made for one to two years starting from April 1.

What is coal-bed methane gas?

Coal-bed methane is an organic gas produced during the mining of coal. This gas is usually found in underground places near coal mines. This gas is mainly a mixture of methane, carbon dioxide, hydrogen, nitrogen and other gases like atmospheric thallium. The main source of coal-bed methane is the formation of coal blocks during coal mining. This gas is extracted from the subsea during coal mining and comes out directly after being freed from oxygen. Most coal-bed methane is used for energy production, including power generation and gas compression. Coal-bed methane production is common during coal mining, but the production process can produce more ultrapure gas using appropriate technology. Coal-bed methane production may create unmet needs in carbon-based energy systems, such as a cleaner and safer gas supply.

Mayank

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