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Government panel suggests gas price of USD 4 to 6.5 per unit 

It suggested the ceiling rate for this gas from legacy or old fields, called APM gas, will be increased by $0.5 per mmBtu annually.  

Published: 01st December 2022 10:11 AM  |   Last Updated: 01st December 2022 10:11 AM   |  A+A A-

Representational image of fuel. (Photo | Express)

Representational image of fuel. (Photo | Express)

By Express News Service

NEW DELHI: The government-appointed gas price review panel headed by Kirit Parikh has recommended a floor price of $4 per mmBtu (Metric Million British Thermal Unit) and a cap of $6.5 per mmBtu for legacy and old fields being operated by ONGC and OIL. 

A report submitted by the panel suggested linking the price of gas produced by state-owned firms from fields given to them on a nomination basis to imported crude oil prices rather than benchmarking them to gas rates in international markets, adding that the rates thus arrived would be subject to a floor and ceiling. It suggested the ceiling rate for this gas from legacy or old fields, called APM gas, will be increased by $0.5 per mmBtu annually.

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