Government lowers domestic natural gas prices to $7.80/mBtu for March
This story was originally published at 19:04 IST on 28 February 2025
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MUMBAI – The government has reduced the price of domestically produced natural gas to $7.80 per million British thermal units for March from $7.94 per mBtu in February, on a gross calorific value, the oil ministry's Petroleum Planning and Analysis Cell said in a notification.
The natural gas produced by Oil and Natural Gas Corp. Ltd. and Oil India Ltd. will be subject to a ceiling of $6.50 per mBtu on a gross calorific value basis for March, according to the notification.
In April 2023, the Ministry of Petroleum and Natural Gas had amended the New Domestic Natural Gas Pricing Guidelines, 2014, to integrate several recommendations of the Kirit Parikh committee on gas pricing. The revised guidelines mandate domestic natural gas to be priced at 10% of the Indian crude oil basket price, and that these prices must be declared by the planning cell on the last day of every month for the following month. End
Reported by Ashutosh Pati
Edited by Rajeev Pai
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