India Cuts Natural Gas Price By 25% To $1.79

The government on Wednesday slashed the rate at which most natural gas produced in India is sold by a steep 25%.

Gas produced by state-owned Oil and Natural Gas Corporation and Oil India Ltd. from areas given to them on nomination basis will cost $1.79 per million British thermal unit for six-month period beginning Oct.1, 2020, an official order said.

The price of new gas from difficult fields such as deepsea has also been cut to $4.06 per mmBtu from $5.61, the order said.