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Amid coronavirus outbreak, India reduces natural gas price to record low

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New Delhi: India has reduced the domestic natural gas price to $2.39 per million British thermal units (mmBtu)—the lowest under the new domestic gas price regime, which was introduced in 2014.

Also, the ceiling price for gas from difficult fields such as deep water, ultra deep water and high pressure-high temperature areas was reduced to $5.61 per mmBtu from the earlier price of $8.43 per mmBtu.

The sharpest price decline till date will help reduce the cost of urea manufacturing, power generation and benefit compressed natural gas (CNG) and piped natural gas (PNG) consumers in the backdrop of global energy prices in a tailspin amid nationwide lockdowns to stop the coronavirus (Covid-19) pandemic.

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