India Unveils Revised Domestic Natural Gas Prices for June 2024: Set at US$ 8.44 per million British thermal units (MMBTU) on a Gross Calorific Value (GCV) basis.
This newly disclosed price reflects a 5.2% decrease from May 2024, demonstrating India’s proactive management of market dynamics to foster stability and predictability in the domestic natural gas sector. Notably, gas produced by ONGC/OIL from their nomination fields will be capped at US$ 6.50/MMBTU on a GCV basis during the same period.