UPDATE 1-Reliance Industries sees shale gas production to be a third of total

Thu Jun 6, 2013 4:44am EDT
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MUMBAI, June 6 (Reuters) - India's Reliance Industries Ltd , which has three joint ventures for shale gas in the United States, expects production there to account for more than a third of its aggregate production this year, Chairman Mukesh Ambani said on Thursday.

Reliance's U.S. shale gas business has more than doubled its revenue and EBITDA (earnings before interest, tax, depreciation and amortisation) compared with last year, Ambani told shareholders at the company's annual general meeting.

Ambani also said the company would forge long-term partnerships to source crude.