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Natural gas prices in India to be hiked by 10% - Report

Gasoil News - Published on Thu, 14 Feb 2019

Image Source: The Financial Express
PTI, citing sources in know of the development, reported that a boost to firms like ONGC and Reliance Industries, the government is likely to raise the price of domestically produced natural gas by over 10% to over USD 3.72 per million British thermal unit with effect from April 1. The price of gas produced from difficult fields will rise to about USD 9 per million British thermal unit from current USD 7.67

This will be the fourth straight increase in gas prices.

Natural gas prices are set every six months - on April 1 and October 1 every year - based on average rates in gas-surplus nations like the US, Russia and Canada. The rate is calculated by taking a weighted average price at Henry Hub of the US, National Balancing Point of the UK, rates in Alberta (Canada) and Russia with a lag of one quarter.

Source :

Posted By : Rabi Wangkhem on Thu, 14 Feb 2019
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