Vedanta invites bids for natural gas from Rajasthan block

02 Jan 2023 CW Team

The floor price for the natural gas from Vedanta's Rajasthan block is $9.57 per mmBtu. According to the e-auction document, Vedanta intends to sell 3 million metric standard cubic metres of gas per day (mmscmd) during an auction scheduled for January 18. Starting on April 1, the supply will be made available for a whole year from the Raageshwari gas terminal in Barmer, Rajasthan.

The domestic formula price, which is updated every six months and is now $8.57 per mmBtu, will serve as the floor price and will be one dollar higher than it. The lowest bidder's premium plus the lower of Platts LNG West India marker or 15.25% of the average Brent price shall be the sale price.

The sale price would be $12.5 per mmBtu at the current Brent price of $82 per barrel and zero premium. Vedanta has complete control over the price of the gas it generates from its Rajasthan block. The majority of the nation's producing fields lack pricing flexibility; thus their gas is sold at the domestic formula price. Gas from challenging fields may be offered for sale at market prices, subject to a cap that is currently set at $12.46 per mmBtu.

The gas market has been experiencing unprecedented upheaval for a little over a year, which has kept prices high and made it exceedingly unpredictable. India's gas imports and usage have decreased as a result. Increased domestic gas production could aid in reducing imports.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..