 "natural gas pipeline")
The government on Thursday hiked the price of natural gas -- which is used to make fertilisers, produce electricity and is turned into CNG for automobiles -- by 62 per cent, an official order said.
The price of natural gas produced by state-owned firms such as ONGC from fields given to them on nomination basis will be $2.90 per million British thermal unit for the six month period beginning October 1, it said.
India also increased the ceiling price for gas produced from more challenging fields to $6.13 per mmBtu for October 2021-March 2022 from $3.62 per mmBtu in the prior six-month period, the statement read.
The prices will be applicable on a gross heat value basis.
Natural gas prices affect earnings of state-run producers such as Oil and Natural Gas Corp Ltd and Oil India Ltd.
