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India doubles price of natural gas; price maybe lowered for fertilizer industry

4:00 AM MDT | July 1, 2013 | Deepti Ramesh

India’s Ministry of Petroleum & Natural Gas (New Delhi) says that the Cabinet Committee on Economic Affairs has approved a plan to double the price of natural gas to $8.4 per mmBtu (million British thermal unit), effective April 2014 and it will be applicable for five years. The increase in price will help increase investment in the upstream sector in India; it will also ensure that producers do not cartelize because of huge unmet demand, the ministry says. The increase in the price of natural gas will lead to a sharp rise in the cost of producing...

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