India: The mysterious gas price hike

The oil & gas industry in India is going through a big turmoil and is facing scrutiny from domestic as well as foreign players operating in India. Unfavorable pricing, delays in approval for surveys, projects, etc. are few issues which have hampered the industry and operations. The stubborn pricing of natural gas has further made it very difficult for the operators to explore proven reserves. This in turn, has fueled imports in the form of LNG (Liquefied Natural Gas) costlier than domestic production (USD 16-20/unit). This whitepapers highlights various issues pertaining to gas price hikes as well as few options which Indian government can consider.