India's oil ministry eyes pooled gas pricing mechanism in 6-8 months
India's oil ministry intends to come up with a policy and device for pooled rates for natural gas in 6 to 8 months, S. Sundareshan, oil assistant claimed at an industry occasion in New Delhi on Saturday. This is a proposal to guarantee that consumers throughout the country pay an uniform price for gas, he added.
When Petronet LNG's 2.5 million mt terminal at Kochi in the southern part of India is total, the cost a consumer spends for Dependence LNG would certainly be two times what consumers in Mumbai and also Delhi would pay, which would certainly be entirely unacceptable, Sundareshan claimed at a pre-conference session on LNG held ahead of Petrotech 2010, which starts on Monday.
Petronet LNG has gotten 1.5 million mt of LNG products from Exxon Mobil's Hag job in Australia for 20 years.
Sundareshan claimed the primary step towards achieving an uniform gas cost for customers with pooled rates was when the government treked the price of gas sold by state-owned upstream firms under the provided price mechanism to $4.2/ MMBtu, on par with the rate of gas marketed from eastern offshore KG D6 block of Reliance Industries Limited in June.
The geographical discrepancy in natural gas provided with pipes would also be remedied when 9,000 kilometers of pipe network awarded to state-owned energy GAIL and also an RIL subsidiary is finished by the end of 2012, Sundareshan stated. The pipelines prepared would connect the southern as well as eastern markets to the eastern overseas area materials and likewise Kochi and also Dabhol LNG terminals.
Presently, GAIL has over 7,800 kilometres of high stress trunk pipeline with an ability to lug around 165 million cu m/d of natural gas across the country.
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