The Central Committee on Economic Affairs has approved Natural Gas Marketing Reforms today. The decision taken under the chairmanship of Prime Minister Narendra Modi is an important step towards a gas-based economy. The goal of this policy of the government is to follow a transparent and competitive process to determine the prices of gas sales. Under this policy, prices will be fixed in a transparent manner through e-bidding and business convenience will increase with the introduction of this policy. The new guidelines will apply to gas producing companies and will apply to the prices and marketing of gas coming out of the oil gas block.
Under this policy of the government, the companies concerned will participate in the open, transparent and electronic bidding process. This will increase competition in the gas market. The government has also made provision for bidding again in its policy. With the coming of this policy, the field development plans (FDPs) of those blocks will also get marketing freedom for which they have already got pricing freedom under the production related deal.
