Tag: Reliance Industries
The project was hit with a three year delay as global gas markets crashed amid a growing supply of liquefied cargoes from the US, Australia and Russia.
Shares of Reliance jumped as much as 9.3% in Mumbai on Tuesday, their biggest intra-day gain since 2017.
The deal is the biggest foreign investment in Reliance Industries’ history.
Asian liquefied natural gas (LNG) prices rise while European prices continue to drop, with an increased price spread between the two regions triggering interest in sending some Atlantic cargoes to Asia Pacific.