Giving a boost to producers such as Oil and Natural Gas Corporation (ONGC) and Reliance Industries (RIL), the price of domestic natural gas in India has increased by 10 per cent to $3.69 per million metric British thermal units (mmBtu) for the April-September period, compared to $3.36 per mmBtu during October to March period.
Producers will be able to charge a maximum of $9.32 per mmBtu for difficult fields, posting an increase of about 22 per cent from $7.67 a unit during October-March. This includes gas produced from discoveries in deepwater, ultra deepwater and high-pressure-high temperature areas. The price of domestic natural gas is decided after every six months, based on a formula, taking into account average rates from international trading hubs.
