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India approves landmark gas price reform

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Report summary

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...

What's included

This report contains

  • Document

    India approves landmark gas price reform

    PDF 428.47 KB

Table of contents

  • Executive summary
  • The Rangarajan formula
  • The need for change
  • New pricing impact
  • A big step forward

Tables and charts

This report includes 4 images and tables including:

Images

  • 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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