 "Natural gas")
India should have completely free and market-determined pricing for natural gas extracted from legacy fields and remove all caps by January 1, 2027, the Kirit Parikh committee constituted to review gas prices has recommended in its report, which was submitted to the Centre on Wednesday.
Till then, the committee has suggested a floor price of $4 per MMBtu (metric million British thermal unit) be kept in place to cover the cost of gas production by Oil India (OIL) and the Oil and Natural Gas Corporation (ONGC), Parikh told Business Standard.
The committee has also recommended a ceiling price of $6.5 per mmBtu,
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