■ No decision on the Parikh committee proposal to deregulate gas pricing from January 1, 2027
■ Price for gas from 'new and difficult fields' owned by Reliance-bp and ONGC stays unchanged at $12.46 per mBtu
THE CABINET COMMITTEE on Economic Affairs (CCEA) on Thursday decided that the price of natural gas from legacy fields, which account for 70% of domestic output, will be fixed at 10% of the monthly average of Indian crude basket, subject to a price band of $4-6.50/unit, for the next two years.
The CCEA decision will lead to a reduction in the price for legacy gas from the record level of $8.57 prevailed since September 2022, when the price was linked to select international gas hubs, subject to six-monthly revisions.
Under the new policy, gas produced from new wells or well interventions in the nomination fields of state-run ONGC and OIL would be allowed a premium of 20% over the administered price to incentivise production. After two years, the price band will increase by $0.25 a year.
While the decision is based on the report of the Kirit Parikh committee, the CCEA refrained from taking a call on complete de-regulation of gas pricing, starting from January 1, 2027, as recommended by the panel.
Diese Geschichte stammt aus der April 07, 2023-Ausgabe von Financial Express Mumbai.
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