City gas companies seek 2-year extension to make up for Covid loss
Adani NSE -3.66 % Total Gas, Torrent, AGP, and other city gas companies have demanded an extension of more than two years from the regulator to complete their promised work programme, citing past Covid restrictions. If the regulator agrees, companies can escape penalties for missing work programme targets and enjoy an extended marketing exclusivity.
The Petroleum and Natural Gas Regulatory Board (PNGRB) has almost finished hearing companies’ petitions regarding the extension and will likely announce its decision in a fortnight. Companies widely expect the board to accept their demand, according to people familiar with the matter.
