Anil claims rights over gas pipeline, distribution

Schedule-II of the said demerger agreement, even approved by RIL, stipulated that the Anil group could have a captive fuel supply pipeline and acquire gas fields for power and distribution of gas business, Reliance Energy (REL) sources said here.

While RIL spokesperson could not be contacted for comments despite several attempts, sources close to the group wondered as to why the Anil group was not exploring the legal and arbitration route if it felt so aggrieved by the so-called one sided non-compete agreement. They also wanted to know as to why the lawyers and others associated with the process of formalising the settlement between the Ambani brothers are silent.

They said that schedule-II has earmarked petroleum, including refining, marketing, oil and gas, exploration and production, pipelines and supply and distribution of industrial gas and retail in petroleum, for Mukesh’s group subject to certain exceptions.

Under the schedule, resulting group (Anil group companies) could ‘‘farm in’’ for entering into JVs or partnerships with gas producers or participate in government of India process for acquisition of gas/CBM fields for its gas to power and distribution businesses, REL sources said.

‘‘If there is surplus gas after meeting the needs of the resulting group, there would an effective first right of refusal given in the demerged group prior to sale to a third party,’’ they added. Likewise, schedule-II also has provision for creation of a captive fuel supply pipeline company for sourcing of fuel in relation to the power business and the excess capacity could be sold to third party after offering it first to the demerged (RIL) group, sources said.

With PTI