RIL, ONGC, BP, Cairn demand immediate hike in natural gas price

RIL, ONGC, BP, Cairn demand immediate hike in natural gas price

Energy giants led by Reliance Industries, ONGC, BP and Cairn India on Monday unanimously demanded an immediate hike in natural gas prices, saying current sub-market price of US $4.2 was impeding development of over a dozen discoveries.
As the government began consultations with stakeholders on raising gas prices, gas producers and consumers met a committee of secretaries (CoS) separately with their pleas on the issue. The panel, whose meeting was chaired by Power Secretary PK Sinha, gave a patient hearing to both sets and asked them to present their views in writing by August 28.
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