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India approves landmark gas price reform


India approves landmark gas price reform

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...

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  • India approves landmark gas price reform PDF - 428.47 KB 4 Pages, 0 Tables, 4 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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

In this report there are 4 tables or charts, including:

  • Executive summary
  • The Rangarajan formula
  • The need for change
    • India's conventional gas production forecast, from current commercial developments
  • New pricing impact
    • Incremental reserves developed (tcf)
    • Increased government take and operator NPV10
    • Upstream investment forecast
  • A big step forward
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