11/23/12 Print Release

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Print Press Information Bureau Government of India

Ministry of Petroleum & Natural Gas 21-November-2012 19:41 IST

Petroleum Ministry describes reports regarding withdrawal of the Note for EGoM about

KGD-6 gas price revision at the behest of the present Minister as completely baseless Press Note

The Ministry of Petroleum & Natural Gas is constrained to note that certain baseless and frivolous

allegations regarding the issues pertaining to KGD-6 gas pricing are reported in some of the

Newspapers. In this regard, the following facts are stated to put the things in proper perspective.

The issues pertaining to gas pricing were explained in detail in the Ministrys earlier Press Release on

1st November, 2012 issued immediately after the present Minister took over. It is reiterated that

request of RIL regarding revision of price was rejected in October, 2010 itself and it was categoricallystated that no revision of gas price can be considered before 2014.

The Rangarajan Committee was constituted in July 2012 i.e. much before the assumption of charge by

the present Minister. Gas pricing is one of the issue referred to the Rangarajan Committee, since its

inception.

As regards to note for the Empowered Group of Ministers (EGoM) regarding revision of price of

Natural Gas produced from KGDWN-98/3 Block, the same was submitted to the Cabinet Secretariat

on 19th September, 2012. As per the advice of the Cabinet Secretariat on 24th September, 2012, the

note was further circulated for wider Inter-ministerial consultation. Now, as per the routine procedure,

the Ministry has been advised to obtain approval of the new Minister-in-charge before it is re-submittedto the Cabinet Secretariat. Therefore, news reports regarding withdrawal of the note at the behest of the

present Minister is completely baseless.

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MINISTRY OF PETROLEUM & NATURAL GAS, GOVERNMENT OF INDIA

NEW DELHI, November 21, 2012

RCJ/clarification on KG D-6 gas price