Govt Cuts Domestic Natural Gas Prices to $7.29 Per MmBtu for Dec

03 Dec 2024 CW Team

The notification stated that the price of domestic natural gas from December 1, 2024, to December 31, 2024, is set at $7.29/mmBtu on a gross calorific value (GCV) basis.

Under the new gas pricing mechanism, domestic gas prices are now subject to a floor and ceiling of $4 per mmBtu and $6.5 per mmBtu, respectively. The price had been $6.5 per mmBtu in November as well.

The price applies to natural gas produced from the legacy and oil fields of Oil and Natural Gas Corporation (ONGC) and Oil India (OIL). Under the new pricing regime, domestic gas pricing is linked to imported crude pricing, set at 10 per cent of the Indian crude basket. The prices are revised every month.

This pricing decision is part of India's on-going efforts to manage its natural gas sector effectively while balancing the needs of producers and consumers. The new price follows the guidelines set forth by the MoPNG's notification in April 2023, which established the framework for monthly price updates.

Key stakeholders, including the Directorate General of Hydrocarbons, ONGC, OIL, and GAIL, have been informed of the new pricing structure to ensure a coordinated approach in managing the country’s natural gas sector.

An expert explained that the new pricing reflects India’s efforts to align its energy policies with global standards, while supporting domestic production and ensuring fair pricing for all stakeholders. The government's monitoring of global energy markets, combined with its policy framework, aims to stabilise pricing and maintain growth in the country’s natural gas sector.

The oil ministry announced in a notification that the price of domestic natural gas for December has been reduced to $7.29 per million metric British thermal units (mmBtu), down from $7.53 in the previous month. However, the domestic natural gas price will remain at $6.5 for the month, as per the formula used for the calculation of prices. The notification stated that the price of domestic natural gas from December 1, 2024, to December 31, 2024, is set at $7.29/mmBtu on a gross calorific value (GCV) basis. Under the new gas pricing mechanism, domestic gas prices are now subject to a floor and ceiling of $4 per mmBtu and $6.5 per mmBtu, respectively. The price had been $6.5 per mmBtu in November as well. The price applies to natural gas produced from the legacy and oil fields of Oil and Natural Gas Corporation (ONGC) and Oil India (OIL). Under the new pricing regime, domestic gas pricing is linked to imported crude pricing, set at 10 per cent of the Indian crude basket. The prices are revised every month. This pricing decision is part of India's on-going efforts to manage its natural gas sector effectively while balancing the needs of producers and consumers. The new price follows the guidelines set forth by the MoPNG's notification in April 2023, which established the framework for monthly price updates. Key stakeholders, including the Directorate General of Hydrocarbons, ONGC, OIL, and GAIL, have been informed of the new pricing structure to ensure a coordinated approach in managing the country’s natural gas sector. An expert explained that the new pricing reflects India’s efforts to align its energy policies with global standards, while supporting domestic production and ensuring fair pricing for all stakeholders. The government's monitoring of global energy markets, combined with its policy framework, aims to stabilise pricing and maintain growth in the country’s natural gas sector.

Infrastructure Urban

12 May 2026

Blue Dart posts revenue growth in FY26 on e-commerce and B2B demand

Blue Dart Express Limited, South Asia’s express air and integrated transportation and distribution company, has reported year-on-year growth in revenue for the financial year ended March 31, 2026, driven by strong momentum in e-commerce shipments and B2B surface express solutions.Announcing its financial results after the Board Meeting held in Mumbai, the company said revenue from operations rose to Rs 6,141 crore in FY2025–26, compared to Rs 5,720 crore in FY2024–25. Profit after tax for the year stood at Rs 240 crore.For the quarter ended March 31, 2026, Blue Dart reported revenue from..

Infrastructure Urban

12 May 2026

Terex launches TRAC vibration analysis system

Terex®, a global provider of specialised equipment solutions, has launched TRAC, a new vibration analysis system designed to deliver deeper insight into the performance, condition and long-term structural integrity of screening equipment.Announced in Hosur on May 11, 2026, the TRAC system is now available across screening equipment offered under Terex Materials Processing (MP) brands, including Powerscreen®, Finlay®, EvoQuip®, MDS®, Terex® Washing Systems, Terex® MPS (Cedarapids®, Simplicity®), MAGNA™ and Terex® Ecotec.Developed specifically for vibratory screening equipment by Ter..

Infrastructure Urban

12 May 2026

ADIO partners Motherson to set up large automotive components hub in KEZAD

The Abu Dhabi Investment Office (ADIO) has announced its support for Samvardhana Motherson International Limited’s (Motherson) new manufacturing hub in Abu Dhabi, marking a major step in strengthening the emirate’s position as a global centre for advanced manufacturing and automotive supply chains.ADIO said the partnership aligns with its strategy to accelerate high-value industrial investments and build resilient supply chains across priority sectors, further reinforcing Abu Dhabi’s competitiveness as a regional and global manufacturing and export hub.Under the partnership, a large-scal..