Bs Reporter / Mumbai August 01, 2008, 0:50 IST Mukesh Ambani-promoted Reliance Industries (RIL) will lose around $1 billion (Rs 4,300 crore) a year if it sells gas to the Anil Ambani's Reliance Natural Resources (RNRL) at the agreed price of $2.34 per million British thermal unit (mBtu). "If RIL is compelled to sell gas to RNRL at the said price, it will be paying a huge subsidy to the company," Harish Salve, senior counsel for RIL in Bombay High Court, said on Thursday. Mukesh Ambani and brother Anil Ambani are slugging it out in court over the supply of natural gas from RIL's eastern offshore Krishna-Godavari gas fields. The June 2005 agreement between the Ambani brothers stipulated that gas from RIL's KG basin fields would be allocated to Reliance Energy for its upcoming power plants. As per the agreement