The Minister of State for Petroleum & Natural Gas Smt. Panabaaka Lakshmi informed the Rajya Sabha in a written reply today that the recommandations of the Committee constituted under Chairmanship of Dr.C. Rangarajan, Chairman, Prime Minister™s Economic Advisory Council (EAC) are under consideration of the Government. The committee was set up to review among other things, the basis for determining price of domestically produced natural gas. The recommendations of the Committee can be viewed/downloaded from the official website of the Economic Advisory Council to the Prime Minister http://eac.gov.in/.
She also said that under the Production Sharing Contract (PSC) regime, the current sale price of natural gas, including Coal Bed Methane (CBM), varies from a minimum of US$ 2.67 per Million British Thermal Unit (MMBTU) to a maximum of US$ 6.79 per MMBTU. The sale and pricing of natural gas under the PSC regime is governed by the relevant PSC provisions. Price of Administered Price Mechanism (APM) gas varies from $2.52 to $4.2 per MMBTU. While the price of non-APM gas varies from $4.2 to $ 5.25 per MMBTU.