OilMin accepts all major Kirit Parikh panel recommendations on gas pricing

Final cabinet note being prepared, but Finance Ministry yet to submit comments on key issues

The Petroleum and Natural Gas Ministry has accepted the main recommendations of the Kirit Parikh committee on natural gas pricing, and will be further recommended by them to the Cabinet soon, several officials said. The move is expected to have a significant impact on the energy sector, as the price of natural gas will likely increase.

The recommendations of moving to a purely market-determined natural gas pricing system in the next four years, and instituting a ceiling price at $6.5 MMBtu (metric million British thermal unit) and float price at $4 per MMBtu for domestic natural gas prices till then,