New Delhi, Oct 7 : Hailing the Union Cabinet decision to approve the Natural Gas Marketing reforms, Union Home Minister Amit Shah on Wednesday said that this visionary reform will prove to be a game changer by inducing more transparency and competition in gas sector.
Taking to micro-blogging site Twitter, he said “In a major move to strengthen the gas sector and to make India a gas based economy, Modi govt has approved ‘Natural Gas Marketing Reforms”.
This visionary reform will prove to be a game changer by inducing more transparency and competition in gas sector, Mr Shah added.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved ‘Natural Gas Marketing Reforms’, taking another significant step to move towards gas based economy.
The objective of the policy is to prescribe standard procedure to discover market price of gas to be sold in the market by gas producers, through a transparent and competitive process, permit Affiliates to participate in bidding process for sale of gas and allow marketing freedom to certain Field Development Plans (FDPs), where Production Sharing Contracts already provide pricing freedom.