New Delhi, Aug 21 - The government is likely to issue a statement later Friday spelling out its position on the supply of natural gas from the Krishna-Godavari basin awarded to Mukesh Ambani's Reliance Industries.

The decision was taken late Thursday following a meeting of a high-level panel, led by Finance Minister Pranab Mukherjee, with Petroleum Minister Murli Deora, Power Minister Sushilkumar Shinde and Law Minister M. Veerappa Moily as members.

The panel had been set up by Prime Minister Manmohan Singh after criticisms that different ministries had divergent positions on the subject that is embroiled in legal disputes in the Bombay High Court and the Supreme Court.