Panel To Favour Linking Local Gas Prices To Crude Basket: Report

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Panel To Favour Linking Local Gas Prices To Crude Basket: Report

The panel is set to favour linking the price of local output to a crude basket.(Representational)

New Delhi:

India’s natural gas price review panel is set to favour linking the price of most local output to an Indian crude basket with a cap of $6.50 per million British thermal units (mmBtu) to shield consumers from the volatility in global markets, sources said.

In September India set up a panel headed by energy expert Kirit Parikh to review the India’s gas pricing formula to ensure fair prices to consumers after state-set prices of gas from old fields and a ceiling price for output from difficult blocks rose to a record high.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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