Government hikes Domestic Natural Gas price to $8.60 per MBtu for September

Government hikes Domestic Natural Gas price: The central government, on Thursday, increased the price of domestic natural gas for September to $8.60 per million British thermal units from $7.85/mBtu in August, according to a notification by Petroleum Planning and Analysis Cell.

“In accordance with MoPNG's notification...dated 7th April 2023, the price of Domestic Natural Gas for the period 1st September 2023 to 30th September 2023 is notified as $8.60 per MMBTU on Gross Calorific Value,” said Petroleum Planning and Analysis Cell.

Furthermore, the notification said that the price from the nomination fields of both the Oil PSUs (ONGC and Oil India Limited) will be subject to a ceiling of $6.50 per mBtu, which remains unchanged from August.