There are no plans to revise the price of gas from KG-D6 block before April 2014, new petroleum minister M Veerappa Moily said.

Reliance Industries Limited (RIL) has asked the petroleum ministry to increase the price of gas being produced from its KG-D6 block by threefold, from $4.20 per unit to $14.2 per unit. Yesterday, India Against Corruption (IAC) activist Arvind Kejriwal recently alleged that former petroleum minister Jaipal Reddy was moved out of the petroleum ministry as he was not ready to bow to RIL's pressure.

But the petroleum ministry, which is now headed by Mr. Moily, reiterated that the prices of gas from RIL's fields would not be revised before 2014.

The petroleum ministry said in a statement, "It is clarified the government of India has taken a consistent stand from 2010 that the revision cannot take place before 2014."

Responding to allegations of `gold plating' in the D6 block, the ministry said that its stand with regard to production & expenditure in D6 block has been consistent from the year of 2006 and that that the government is determined to protect its revenue by regular supervision of the production and expenditure.

Gas production in D6 block has declined from the projected 81 million standard cubic metres per day to 20.5 million standard cubic metres per day this year, prompting the government to halt proportionate cost recovery by the contractor.

Meanwhile, the petroleum ministry has postponed national auditor CAG's meeting with the representatives of RIL to discuss details of the financial audit of KG-D6 accounts. Sources said that the meeting was postponed to give the ministry more time to sort out certain discrepancies over the issue of audit of the KG D6 accounts. The CAG had scheduled the meeting for October 31.