NEW DELHI: The government on Saturday increased by nearly 7% the price of natural gas produced from domestic fields — the main feed for city gas networks — for October in tune with hardening global oil and LNG rates, a move that could lead to CNG and PNG becoming costlier.
According to a notification issued by the oil ministry’s market tracker Petroleum Planning and Analysis Cell, gas produced from domestic fields will be priced at $9.2 per unit (million metric British thermal units) for October against $8.6 in September. However, the price ceiling for gas produced from the legacy fields given to state-run ONGC and Oil India Ltd on nomination — the norm before the auction of exploration blocks started — remains unchanged at $6.5 per unit.
The ceiling for the price of gas from deepwater, ultra-deepwater and geographically difficult fields that have been given marketing and pricing freedom has been pegged at $9.96 per unit. Reliance Industries and BP operate such fields.
According to a notification issued by the oil ministry’s market tracker Petroleum Planning and Analysis Cell, gas produced from domestic fields will be priced at $9.2 per unit (million metric British thermal units) for October against $8.6 in September. However, the price ceiling for gas produced from the legacy fields given to state-run ONGC and Oil India Ltd on nomination — the norm before the auction of exploration blocks started — remains unchanged at $6.5 per unit.
The ceiling for the price of gas from deepwater, ultra-deepwater and geographically difficult fields that have been given marketing and pricing freedom has been pegged at $9.96 per unit. Reliance Industries and BP operate such fields.
