Domestic gas price was raised from $ 4.2 per million British thermal unit
to $ 5.61 per per million British thermal unit
effective November 1, 2014.
India-based Reliance Natural Resources Limited (Reliance Natural Resources) (BSE: 532709) (RNRL) has announced that Reliance Industries Limited (Reliance Industries) (RIL)(500325.BY) is aiming to sell natural gas at USD4.20 per million British thermal unit
instead of USD2.34.
Federal minister for Petroleum and Natural Resources Shahid Khaqan Abbasi told that Pakistan and Qatar have yet not initiated talks on the pricing of LNG but it will be in the range of $16-17 per Million British Thermal Unit
As far as exploration and production (E and P) sector is concerned, 2014 will be the year of renewed focus on exploration activity in zones I and II while the incentives offered in the new E and P Policy 2012 and low British thermal unit
(BTU) gas policy will spur activity in the country, said research analyst-PAGE.
In the new policy, wellhead gas price has been set at $6 per Million British Thermal Unit
(MMBTU) for Zone-III, $6.3 for Zone-II and $6.6 for Zone-I.
The government had in June this year raised price of gas paid to ONGC to $4.2 per million British thermal unit
from $1.79 per mmBtu.
A gas price of US$6.75 per million British thermal units
The government has decided to keep tariffs for the first slab unchanged at Rs121 per million British thermal units
(mmBtu) or a maximum bill of Rs285.
The Asian spot price for liquefied natural gas (LNG) has dropped to below $5 per million British thermal units
(mmBtu) this week as sellers flooded the market with spot cargoes, trade sources said.