Government panel proposes cap on price of natural gas produced by state-owned firms
A government-appointed gas price review panel, led by Kirit Parikh, is recommending a floor and ceiling price for natural gas produced from legacy fields of state-owned firms for five years to help moderate CNG and piped cooking gas rates.
State producers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) will be paid a minimum or floor price of Rs 326 ($4) per million British thermal unit and a cap or ceiling price of Rs 531 ($6.5) as against the current rate of Rs 700 ($8.57), three sources with direct knowledge of the matter said.
