The Ministry of Petroleum and Natural Gas (MoPNG) has notified the gas price ceiling for gas produced from discoveries in deepwater, ultra deepwater and high pressure high temperature areas. The price ceiling for the period October 1, 2023 to March 31, 2024 is USD9.96 per million British thermal unit (mBtu) on gross calorific value (GCV) basis. Besides, the MoPNG has notified the price of domestic natural gas for the period October 1, 2023 to October 31, 2023 as USD9.20 per mBtu on GCV basis. However, for the gas produced by ONGC/ Oil India Limited from their nomination fields, the administrative price mechanism price will be subject to a ceiling of USD6.50 per mmBtu on GCV basis for the same period.
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