GSPC Gas reduces PNG prices for industrial consumers

After raising prices of compressed natural gas (CNG) (transport) and piped natural gas (PNG) for domestic consumers on last week, State-owned GSPC Gas Company Ltd. has now announced a reduction in PNG prices for its industrial consumers.  

PNG prices have been reduced by Rs 2 per standard cubic meter (scm) with effect from November 16. As against the previous price of Rs 41.65 per scm excluding tax, the revised PNG prices for GSPC Gas’ industrial consumers now stands at Rs 39.65 per scm from November 16 onwards.

GSPC Gas attributed the revision in natural gas prices for its industrial consumers to the recent changes in international prices.   “Given the current status of natural gas prices in the international market, GSPC Gas Company has decided to reduce piped natural gas (PNG) prices for its industrial consumers with effect from November 16, 2014,” the company said in an official statement.

The company had earlier made revision in CNG (transport) and PNG (domestic) prices by Rs 3.6 per kg and Rs 1.33 per scm, respectively, with effect from November 01, 2014.

As against the previous tariff of Rs 23.50 per standard cubic metre (scm), the PNG (domestic) price were revised to Rs 24.83 per scm. On the other hand, CNG prices saw revision from previous Rs 44.90 per kg levels to Rs 48.50 per kg levels.