NEW DELHI : With current pricing formula making natural gas production economically unviable, Oil Minister Dharmendra Pradhan on Friday hinted at bringing in a new gas policy as well as launching a gas exchange very soon as part of reforms to promote greater use of environment-friendly fuel in the world’s third-largest energy-consuming nation.
Pradhan also said that India favours reasonable prices that give some space to the producer countries.
“We have to have a reasonable price. India is a major consumer. But at this juncture, India’s viewpoint is the price should be reasonable and responsible. Very low prices are not the answer. Reasonable prices are the answer,” he said.
