Guidelines for Natural Gas Pricing
LOK SABHA
UNSTARRED QUESTION No. 3505
TO BE ANSWERED ON 10THAugust, 2023
Guidelines for Natural Gas Pricing
3505. SHRI KOTHA PRABHAKAR REDDY
Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state:
(a) whether the Government has revised the natural gas pricing guidelines for gas produced in the country and if so, the details thereof;
(b) whether it would ensure stable pricing regime for domestic gas consumers and also provide adequate protection to producers from adverse market fluctuation with incentives for enhancing production; and
(c) if so, the details and present status thereof?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS
SHRI RAMESWAR TELI
(a) to (c) The Government has approved the revised domestic natural gas pricing guidelines vide gazette notification dated 07.04.2023 for gas produced from nomination fields of ONGC/OIL, New Exploration Licensing Policy (NELP) blocks and pre-NELP blocks, where Production Sharing Contract (PSC) provides for Government’s approval of prices. The price of such natural gas shall be 10% of the monthly average of Indian Crude Basket and shall be notified on a monthly basis. For the gas produced by ONGC & OIL from their nomination blocks, the Administered Price Mechanism (APM) price shall be subject to a floor and a ceiling. Gas produced from new wells or well interventions in the nomination fields of ONGC & OIL, would be allowed a premium of 20% over the APM price. The reforms have led to significant decrease in prices of Piped Natural Gas (PNG) for households and Compressed Natural Gas (CNG) for transport.
The details and present status of natural gas prices notified by Petroleum Planning and Analysis Cell (PPAC) in accordance with revised domestic natural gas pricing guidelines dated 07.04.2023 are as under:
|
Period
|
Domestic Gas calculated price in US$/MMBTU
|
Domestic Gas calculated price for ONGC/OIL in US$/MMBTU
|
|
8 April 2023-30 April 2023
|
7.92
|
6.50
|
|
1 May 2023-31 May 2023
|
8.27
|
6.50
|
|
1 June 2023-30 June 2023
|
7.58
|
6.50
|
|
1 July 2023-31 July 2023
|
7.48
|
6.50
|
|
1 August 2023-31 August 2023
|
7.85
|
6.50
|
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