ONGC calls for higher gas prices at KG block

India’s ONGC has requested that New Delhi increase the price it would receive for gas from a $600 million project to make it viable.
By Staff reporter 8 November 2017 0 28293

India’s Oil and Natural Gas Corp. (ONGC) has requested that New Delhi increase the price it would receive for gas from a $600 million project to make it viable, according to The Economic Times.

The company has asked the government for special pricing dispensation for the block, KG-OSN-2004/1.

The project does not qualify as a ‘difficult’ field, which would have allowed ONGC to charge up to $6.30/MMBtu under the government’s pricing policy.

The price for ordinary domestic gas fields was raised by 16% at...