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Natural Gas Marketing Reforms approved

Part of: GS Prelims and GS-III – Resources

In news

The Union Cabinet has approved ‘Natural Gas Marketing Reforms’ to move towards gas based economy.

Key takeaways

Aim of the Policy: (1)To provide standard procedure for sale of natural gas in a transparent and competitive manner; (2) To discover market price by issuing guidelines for sale by contractor through e-bidding.
Advantages: (1) This will bring uniformity in the bidding process across the various contractual regimes and policies; (2) Ambiguity shall be removed; (3) It shall contribute towards ease of doing business.
Affiliate companies can also participate in the bidding process to make it more open and transparent.
The policy will also grant marketing freedom to the Field Development Plans (FDPs) of those Blocks in which Production Sharing Contracts already provide pricing freedom.

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