The Government on Wednesday slashed the rate at which most of the natural gas produced in India is sold by a steep 25 per cent to USD 1.79.
Gas produced by state-owned Oil and Natural Gas Corp (ONGC) and Oil India from areas given to them on nomination basis will cost USD 1.79 per million British thermal unit for six-month period beginning October 1, 2020, an official order said. The price of new gas from difficult fields such as deepsea has also been cut to USD 4.06 per mmBtu from USD 5.61, the order said.
