For Quick Alerts
For Daily Alerts

Domestic Gas Prices Cut To $2.39 per MMBTU, Lowest In 5 Years


As the natural gas prices were declining globally, the government has slashed the price of domestic gas by as much as 26.01% to $2.39 per MMBTU for the April-September period. For the October 2019- March 2020 period, the price of domestic gas was at $3.23 per MMBTU.

Domestic Gas Prices Cut To $2.39 per MMBTU, Lowest In 5 Years

This reduction in price of domestic gas shall be beneficial for the power, fertilizers, CNG segment and piped gas connection customers would also benefit from the rate cut.

Also, the center has slashed the maximum price for gas produced from ultra-deep water and high pressure, deep water, and high-temperature areas by 33.45% and is pegged at $5.61 per MMBTU on a gross calorific value basis for April-September period versus the previous pricing of $8.43 per MMBTU for October 2019 to March 2020.

Until February of FY20, domestic gas production in the country stood at 27,931 MMSCM and ONGC ranks as the leading producer producing 21,841 MMSCM of domestic gas. The reduction in price of domestic gas will impact the revenue stream of companies in the domain such as ONGC, OIL as well as joint venture entities.

Read more about: natural gas png ongc oil
Story first published: Wednesday, April 1, 2020, 7:37 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more