India panel to favour linking local gas prices to Indian crude basket -sources

Gujarat Energy

29/11/2022 03:03

By Nidhi Verma
       NEW DELHI, Nov 29 (Reuters) - India's natural gas price
review panel is set to favour linking the price of most local
output to an Indian crude basket with a cap of $6.50 per million
British thermal units (mmBtu) to shield consumers from the
volatility in global markets, sources said.
    In September India set up a panel headed by energy expert
Kirit Parikh to review the India's gas pricing formula to ensure
fair prices to consumers after state-set prices of gas from old
fields and a ceiling price for output from difficult blocks rose
to a record high. 
 (Reporting by Nidhi Verma; Editing by Tom Hogue)
 ((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters
Messaging: nidhi.verma.thomsonreuters.com@reuters.net))