The Cabinet Committee on Economic Affairs on Wednesday permitted ‘natural gas marketing reforms’ with an goal to standardise the process to find the worth of gas offered in the market.
“The policy has also permitted affiliate companies to participate in the bidding process in view of the open, transparent and electronic bidding,” an official assertion mentioned. “This will facilitate and promote more competition in marketing of gas.”
It, nevertheless, added that rebidding could be wanted in case solely associates participated, and that there have been no different bidders. The Centre mentioned the coverage would convey uniformity to the bidding course of throughout numerous contractual regimes and insurance policies to keep away from ambiguity and contribute in direction of ease of doing enterprise. “The policy will also grant marketing freedom to Field Development Plans of those Blocks in which Production Sharing Contracts already provide pricing freedom,” it added.
The authorities expects the transfer to spur manufacturing of, infrastructure for and marketing of natural gas, whereas additionally creating jobs in gas-consuming sectors, together with in MSMEs.