Given the buoyancy in demand and uptick in global commodity prices, natural gas prices have been trending higher for the past couple of years.
On a gross-calorific value basis, the price will be around USD 4.67 per mmBtu as compared to USD 5.05 currently. The BJP-led NDA government had in October 2014 used a new formula to fix price of almost all domestically produced natural gas at USD 5.61 per mmBtu for the period up to March 31.
Reversing its earlier stand, a high-level government committee said that domestic natural gas users cannot be asked to subsidise costlier imported LNG as pooling of natural gas prices was not feasible.
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