Billionaire Mukesh Ambani’s Reliance Industries has picked up two-thirds of its own new gas from the KG-D6 block that was auctioned under the new rules with state-owned GAIL and Royal Dutch Shell getting smaller volumes, sources said.

Reliance and its partner UK’s BP Plc on Friday auctioned 7.5 million standard cubic metres per day (mscmd) of incremental gas from the R-series gas field in the KG-D6 block, benchmarking it to a gas marker for the very first time in the country.

The auction was held under the liberalised price discovery rules notified by the government that allowed affiliates of the gas producer to bid and buy natural gas.

Reliance O2C, an affiliate of Reliance, picked up 4.8mscmd of gas in Friday’s auction that lasted for seven-and-a-half-hours, sources with direct knowledge of the development said.

State gas utility GAIL (India) Ltd won 0.85 mscmd of supplies while Shell picked up 0.7 mmscmd.

Adani Total Gas Ltd got 0.1 mmscmd, Hindustan Petroleum Corporation Ltd (HPCL) 0.2 mscmd and Torrent Gas 0.02 mscmd.

Other buyers include IRM Energy (0.1 mscmd), PIL (0.35 mscmd) and IGS (0.35 mscmd), they said.

Sources said the gas was bought at a price of $0.18 per million British thermal unit discount to JKM, that is price of JKM (minus) $0.18 with tenures ranging from three to five years.

Reliance did not respond to email sent for comments. Reliance O2C is the new unit that holds the firm’s refinery and petrochemical assets.