Govt set to lift price restrictions on all locally produced natural gas


Govt set to lift price restrictions on all locally produced natural gas

In one of the last reforms in the oil and gas sector, the government is set to free up pricing of all domestically produced gas that would help scale up local production from fields of ONGC, OIL, Reliance and Vedanta and help create a uniform gas where the fuel is freely tradable on exchanges.

Government sources said that discussions on lifting price restrictions on locally produced natural gas have started that would culminate into a decision about the timing of the new reform initiative. The current timing is considered ideal to free up gas prices as oil market and prices have remained stable.

A panel led by the Niti Aayog vice chairman has also suggested free-market pricing for natural gas produced from all fields to boost domestic output. Read More

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