The dispute between Ambani brothers on the KG basin gas has been going on for while now. The deal struck between them on the gas supply was at a time when the price was low. When the crude and gas price skyrocketed internationally, it made no sense to sell it at lower price. This ticked off Anil Ambani whose projects will suffer if they dont get the gas in time.
Its true gas has to be delivered at the agreed price as per the agreement. Nobody envisaged a stage where the prices will shoot northwards for a longer period of time. In the commodity boom everything went up, unsettling the calculations of everyone.
If the tussle goes on for long period, its the shareholders who will suffer the most. Due to non-availability of gas projects get delayed. That will set us back by a couple of years. The Petroleum Minister recently made a statement that they own the gas and not Mukesh Ambani controlled Reliance Industries. We have not heard much from him after that.
Does the government really the own it or has it sold it to private corporations? Who is responsible for the whole mess? There is no answer for that, atleast at this moment. There should be an end to this and government should act fast and set right as to who owns the resources. Else this kind of uneasy situations will arise and could cost the nation and its people a lot. This is the time to make things clear. Will that happen in the near future? May be.
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