Tag: CNG

  • Adani Total, Torrent Gas reduce CNG, PNG price after Centre revises pricing guidelines

    Adani Total, Torrent Gas reduce CNG, PNG price after Centre revises pricing guidelines

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    Ahmedabad: In a respite to lakhs of domestic gas and CNG vehicle owners, Adani Total Gas Ltd and Torrent Gas reduced CNG and PNG prices following the Centre’s decision to revise the domestic natural gas pricing guidelines.

    Adani Total reduced CNG and PNG prices to up to Rs 8.13 per kg and Rs 5.06 per scm (standard cubic metre), respectively.

    It also announced a reduction in PNG prices for industrial and commercial consumers by Rs 3 per scm, ATGL said in a statement.

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    Similarly, Torrent Gas, which provides CNG and PNG in 34 districts across the country, announced a reduction between Rs 4-5 per scm in the price of domestic PNG and between Rs 6-8.25 per kg in the retail price of CNG effective from today evening, it said in a statement.

    “In line with our policy to prioritize our end consumers, ATGL has decided to pass through the benefit of the New Gas Pricing guidelines announced by the Government of India to our large numbers of Home PNG and CNG consumers,” the ATGL said.

    “The GoI’s decision to revise the domestic natural gas pricing guidelines and the consequent reduction in PNG and CNG prices will bring significant respite to millions of households and CNG vehicle owners,” Torrent Gas said.

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    ( With inputs from www.siasat.com )

  • Govt changes gas pricing formula, caps rates to rein-in CNG, piped cooking gas prices

    Govt changes gas pricing formula, caps rates to rein-in CNG, piped cooking gas prices

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    New Delhi: The Union Cabinet on Thursday approved a new formula for pricing of natural gas and imposed cap or ceiling price to rein in runaway prices of CNG and piped cooking gas.

    Natural gas produced from legacy or old fields, known as APM gas, will now be indexed to crude oil price instead of pricing it based gas prices in surplus nations such as the US, Canada and Russia, Union I&B Miniser Anurag Thakur told reporters after a meeting of the Cabinet.

    From April 1, APM gas will be priced at 10 per cent of the price of basket of crude oil that India imports (Indian basket of crude oil). The rate such arrived at however will be capped at USD 6.5 per million British thermal unit as against current gas price of USD 8.57 per mmBtu.

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    The price such arrived at will also have a floor of USD 4 per mmBtu.

    Rates will be decided every month instead of current practice of bi-annual revision, he said.

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    ( With inputs from www.siasat.com )