Gas Pricing

Realignment of the gas pricing mechanism by insulating the consumers from the spikes in global prices will soften prices and will provide much needed relief to the transportation sector, SIAM President Vinod Aggarwal said on Friday. In a statement, he noted that the measure will also help in re-igniting interest in CNG vehicles in India and would go a long way in promoting a clean alternative fuel in various parts of the country. "Incentivising greater production of natural gas will result in reduction in import dependence of conventional fuels, thereby enabling expansion of CNG infrastructure across the country and facilitating wider availability of CNG for vehicles," Aggarwal stated. The Union Cabinet on April 6, approved a revision in the formula for pricing of natural gas and imposed a cap or ceiling price to help cut CNG and piped cooking gas prices by up to 10 per cent. Natural gas produced from legacy or old fields, known as APM gas, will now be indexed to the price of impor

The government on Thursday amended the domestic pricing model of natural gas in line with the recommendations of the Kirit Parikh committee on gas pricing

In a competitive market, it is the consumer price that should be equalled to the cost of imported gas

New trading products could be the start of India's attempt to create a domestic price benchmark and derivatives contract market, and the tapering of the administered price regime

The S&P BSE Oil & Gas index hit a 52-week high of 20,653.57 in intra-day trade on Wednesday

In its submissions to the Oil Ministry on Wednesday, Kirit Parikh Panel has also asked the government to remove caps on gas prices in three years

The government has hiked prices of domestically produced natural gas for the October 2022-March 2023 period

As global prices soar, another committee to review gas pricing policies may find the going more challenging

India links local gas prices to a formula tied to global benchmarks, including Henry Hub, Alberta gas, NBP and Russian gas with a lag of one quarter

Rajesh K Mediratta on transparency of Indian Gas Exchange and more

Indian Gas Exchange (IGX) was set up two years ago to free up pricing of domestic natural gas. In an interview with Business Standard's S Dinkar, MD & CEO Rajesh K Mediratta shares its journey so far

The company benefited from a rebound in oil prices, up about 23% during the first quarter, as fuel demand recovered after being decimated last year by lockdowns

Industry wants the move allowing free pricing for new fields to become universal to meet clean energy targets

In its first in-depth review of India's energy policies, IEA said for the share of environment-friendly fuel to rise, the government needs to ensure gas is treated on a level playing field

Earlier, RIL had told the HC that the AAP government's decision to probe the Centre's policy on gas pricing was 'peculiar' and 'absurd'

Move to disallow higher price to firms in litigation with Centre may make Reliance consider dropping arbitration case

The company had in May 2014 taken the govt to arbitration seeking implementation of a higher gas price

New price could go up to $6 per mmBtu for ONGC, RIL discoveries