The Hindu Business Line : Decision soon on gas pricing policy: Naik

THE Lok Sabha was informed today that the Group of Ministers reviewing the natural gas pricing policy has submitted its proposals to the Government early this month and a decision would be taken shortly.

Responding to a question, the Union Minister of Petroleum and Natural Gas, Mr Ram Naik said that following the Government's decision to let the natural gas prices be market-determined after the gas price deregulation, a Group of Ministers headed by the Planning Commission Deputy Chairman, Mr K.C. Pant, with Ministers of Power, Petroleum and Natural Gas and Fertilisers as members went, into the whole issue of gas pricing policy. It submitted its report on April 1, only since there was reconciliation of price parity task among different users, he said.

He said plans are afoot to get the Dahej LNG (liquefied natural gas) terminal in Gujarat storing imported LNC supplying from the first quarter of the next fiscal as the country currently produce only 50 per cent of its domestic demand and the rest need to be imported.

When a member said the naptha-based fertiliser plant FACT was facing closure because of the feedstock supply problem and the State had to wait for a couple of years before the second LNG terminal in Kochi start functioning, the Minister said that once the Kochi LNG terminal begins functioning it would cater to all sorts of demands based on gas from the domestic industry in the State.

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