In a step towards India’s goal of achieving a gas-based economy, the NITI Aayog has lined up a proposal to give complete marketing and pricing freedom to all natural gas produced in the country, including nominated gas fields.
The planning body is batting for selling all natural gas through the Indian Gas Exchange (IGX), the country’s first natural gas exchange, where the buyer and seller can decide on prices in a transparent manner, said sources aware of the development.
The move, if it gets cleared by the government, will be advantageous to companies like Oil and Natural Gas Corporation (ONGC) and Oil India (OIL), sitting on a majority of nominated fields.
