(ET)
India has capped trading margins on the resale of gas produced from deepwater blocks, according to a government order issued on Friday, to cut profiteering by traders and bring down prices.
The federal government fixes the ceiling price of gas produced from the deepwater fields as the nation wants to increase the share of natural gas in its energy mix to 15% by 2030 from the current 6.2%.
India allows producers to sell gas produced from deepwater fields, which are cost intensive and difficult to explore, to their affiliates and other buyers through e-bidding platforms at or below the price ceiling.