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India approves landmark gas price reform

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India's upstream industry has received a massive boost as the government approved a new policy that will effectively double domestic gas prices. On 27 June the Cabinet approved a new formula that is directly linked to benchmark global LNG and gas hub prices which offers an average price of US$8.3/mcf in 2014. Current upstream prices are based on numerous different formulas with contract prices ranging from US$2.50 to US$5.75/mcf. The Cabinet has signed off a policy that was proposed by...

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    India approves landmark gas price reform

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This report includes 4 images and tables including:

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  • India's conventional gas production forecast, from current commercial developments
  • Incremental reserves developed (tcf)
  • Increased government take and operator NPV10
  • Upstream investment forecast

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