Natural gas prices are likely to double next month from the present $2.90 per mBtu because of the spike in global demand at the gas hubs, analysts said. Prices are benchmarked to the global hubs and are set twice a year.
Analysts estimate the prices to double to $6 per mBtu from $2.90 per mBtu. In deep-sea fields, the prices are expected to rise to $10 per mBtu from $6.13 per mBtu.
The spike in prices would benefit state-owned firms such as ONGC and Oil India which were given the fields on a nomination basis.
