India Moving Towards Uniform Gas Price Policy

India’s Ministry of Petroleum and Natural Gas will soon bring in a Uniform Gas Price Policy to ensure parity in the price of imported and locally-produced gas, Press Trust of India reported.

"I have worked out the policy, but don't know whether it has to go to the Cabinet or not. The proposed policy will ensure one price for gas that is imported and that is produced here," Union Minister for Petroleum and Natural Gas M Veerappa Moily said.

The minister pointed that the price depends on the country from where it is imported. “In Qatar it is a little less [$18], other countries it is $21. Shale gas may work out very cheap. Now we are working towards parity [in price] between imported and domestic gas," Moily said.

Moily said his ministry has worked out the shale gas policy and it would come to the Union Cabinet any time. On Coal Bed Methane (CBM), the minister said the policy evolved in 1997 was now being revised.

"The CBM policy is outdated and does not respond to the present needs for proper exploitation of the CBM gas. That policy is being revised. I had a meeting with Coal Minister and Coal Secretary. They have raised certain things and we have answered and they have to send some papers. No sooner they send the papers, we will finalise the policy," PTI quoted the minister as saying.