Hike in domestic natural gas price postponed
Posted on: 25/Sep/2014 11:13:47 AM
Hike in price of domestic natural gas is postponed by another 45 days and it will be made on November 15, concludes BJP led NDA government. This is for the second time such a postponement is made by the Modi government. Earlier, during the month of June, a postponement of three months was made in the same regard.
This postponement is said to be disappointing for Reliance Industries led by Mukesh Ambani. Doubling of price of natural gas was sought earlier by the UPA government during 1st April 2014.
According to this, gas price would have increased from $ 4.2 per million British thermal unit to $8.4 (mmBtU). It is now the turn for Modi government to take a call and get into a decision. According to oil companies, the current price of natural gas is not sufficient to carry out the production from new finds in deep sea.
A panel of secretaries was formed in August and this will make necessary analysis. This committee submitted a recommendation for the new pricing last week.
