New natural gas price to be in range of $7-8 a unit

Greater Noida (Uttar Pradesh), Jan 12 : The new domestic natural gas pricing, to be applicable from April 2014, is likely to be in the range of $7-8 per million metric British thermal unit (mmbtu), Petroleum Secretary Vivek Rae said Sunday.

"It would be a weighted average of international prices between January to December 2013. We would come out with the exact pricing by March 15. It may be in the range of $7-8 per mmbtu," Rae told reporters here at the ministry-supported Petrotech 2014 conference organised by state-run explorer ONGC.

The government Friday notified the new pricing formulae for all natural gas produced in the country based on suggestions by the Rangarajan Committee on gas pricing.

Natural gas from April will be priced at an average price of liquid gas (liquefied natural gas or LNG) imports into India and benchmark global gas rates. This formula will be applicable for five years till March 31, 2019.

--IANS (Posted on 12-01-2014)

india-news headlines

Shazia Ilmi defends her utterances on Muslims

Jammu and Kashmir attacks: 25 sarpanches resign publicly

Modi not secular like Vajpayee: Farooq Abdullah

BJP slams AAP for Shazia Ilmi utterances on Muslims

Arun Jaitley advises Priyanka Gandhi on personal attacks

Sex, lies and Goa's massage parlours

Voting for four Jharkhand seats on Thursday

Kejriwal holds roadshow, attacks Modi, Rahul

Heartwarming, extraordinary stories of 10 disabled athletes

Money and liquor trail: Rs.240 crore cash, 1.3 crore litre liquor seized

Supreme Court forms panel over government advertisements

UP gangrape: NHRC asks UP Police for report

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top