On September 25, India plans to raise the price of natural gas produced in the country from October 1, according to a report quoted by the Press Trust of India (PTI). The natural gas produced from India’s old fields may be priced at USD 9/million Bt, 50% higher than the current price.
According to the report, the price of natural gas produced by difficult oilfields such as Reliance Industry’s D6 block in the KG basin may increase from US $9.92 to about US $12/million British thermal. It is reported that the new natural gas price regulation is valid for six months.