In a bonanza for gas producers, Reliance Industries is set to get a record price of around USD 10 per MMBtu for the KG gas, while state-owned ONGC is likely to fetch more than double the rate for its Mumbai High and other fields, sources said.
The government-dictated price for natural gas produced in the country is to be revised on April 1 and factoring in the spike in energy prices witnessed last year, the rate paid for gas produced from fields given to state-owned Oil and Natural Gas Corporation (ONGC) on nomination basis is likely to rise to USD 5.93 per million British thermal units from current USD 2.9.
