RIL re-jigs US Biz plans due to low gas pricing: Sources

Reliance Industries (RIL) has re-jigged its US business plans due to the prevalent low gas pricing. Sources say RIL may delay 10-15% drilling commitments in shale gas JVs which it has in the country. Also, the energy giants want to delay drilling in the US due to low gas pricing.

However, RIL did not offer any comment on the story.

Meanwhile, reports say that the price of natural gas in the US as reflected by the Henry hub prices has fallen to and below $3 per mmBtu level due to the sudden surplus of gas, thanks to several shale gas ventures pumping large quantities of the product from producing fields. As a result, several shale gas players such as RIL are focusing on production of liquid hydrocarbons, which can capitalise on the higher prices of crude oil