PNGRB Re-Opens Proceedings - Multiple Concerns On Prolific CNG Players Ahead: Motilal Oswal
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Motilal Oswal Report
The Petroleum and Natural Gas Regulatory Board has invited comments on the declaration of geographical areas as common/contract carrier, which should be communicated to the regulator by October 12, 2021.
This is in continuation to its earlier efforts to introduce open access.
We continue to reiterate that the process of implementation of a common carrier would be slow, although resuming the process (after the annuity of the last chairman in December 2020) raises the risk of volume erosion for incumbents.
There are elevated concerns on the 60% increase in administrative price mechanism gas price to ~$2.9/ metric million British thermal unit for H2 FY22, with a likelihood of subsequent increase for H1 FY23 as well.
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