Government caps price of gas from difficult fields

Government caps price of gas from difficult fields

 
India has set the ceiling price for gas to be produced from difficult fields at $6.61 per MMBtu for the April-September period, a source with knowledge of the matter said on Thursday. The price will be applicable on gross heat value basis. The is the first time that the country has set a price for the cleaner fuel that has been discovered but not yet produced from deep-water, ultra deep-water and high-temperature and high-pressure fields. Last month, India unveiled a slew of reforms including gas pricing and marketing freedom to the contractors operating challenging fields, as the South Asian nation hoped to unlock resources worth almost $40 billion.

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