India Sets July 2024 Gas Price at $8.24/MMBTU

02 Jul 2024 CW Team

The Petroleum Planning & Analysis Cell (PPAC), under the Ministry of Petroleum and Natural Gas (MoPNG), has established the domestic natural gas price for July 2024 at $8.24 per million British thermal units (mmbtu) on a Gross Calorific Value (GCV) basis. This decision, outlined in accordance with MoPNG?s Notification No.L-12015/1/2022-GP-II dated 7th April 2023, aims to regulate pricing in India?s burgeoning natural gas sector.

In a notification issued today, PPAC underscored that the new rate will be effective from 1st July 2024 to 31st July 2024. Additionally, a ceiling price of $6.50/mmbtu on a GCV basis has been set for gas produced by Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL) from their nomination fields during the same period.

"This pricing framework aligns with our ongoing efforts to streamline the natural gas market, ensuring a balance between producer profitability and consumer affordability," commented a senior official from PPAC. The decision follows meticulous monitoring of global energy trends and adheres to the regulatory framework established by MoPNG?s April 2023 notification.

Key stakeholders, including the Directorate General of Hydrocarbons (DGH), ONGC, OIL, and GAIL, have been duly informed, emphasizing a coordinated approach to manage India?s natural gas resources effectively. The pricing mechanism reflects India?s commitment to fostering a robust energy ecosystem, supporting domestic production while maintaining equitable pricing for stakeholders across the sector.

India?s natural gas sector plays a pivotal role in its energy security strategy, with the government?s proactive stance aimed at enhancing production capacity and aligning with global energy standards. The latest pricing announcement underscores India?s strategic vision to sustain growth and stability in its natural gas market amidst evolving global dynamics.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..