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Systematix Research Report
Based on existing formula, the government has raised domestic administered price mechanism gas price to $8.6/metric million British thermal unit from $6.1/mmbtu earlier on gross calorific basis for the period October 2022-March 2023.
For ultra-deep-water high-pressure high-temperature fields, gas price ceiling has risen to $12.5/mmbtu from $9.9/mmbtu earlier.
Higher price brings cheers to upstream companies like Oil and Natural Gas Corporation Ltd., Oil India Ltd. and Reliance Industries Ltd., while it is significantly negative for city gas distribution companies like Indraprastha Gas Ltd., Mahanagar Gas Ltd., Gujarat Gas Ltd. and other players as well like Adani Total Ltd., GAIL India Ltd. etc.
Further, it would be a dampener for GAIL as well, given the higher input cost for liquid hydrocarbon.
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