The Telegraph
Monday , June 23 , 2014
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Sunday meet on gas

New Delhi, June 22 (PTI): Prime Minister Narendra Modi today met oil minister Dharmendra Pradhan for the second time in three days to hammer out an acceptable increase in natural gas prices that could be announced soon.

After nearly five hours of discussion on issues facing the energy sector on Friday, Modi again called a meeting today with Pradhan where finance minister Arun Jaitley also joined.

Sources said at the Friday meeting the gas price revision was flagged as one of the immediate decisions that the new government needed to take to revive investor interest in the stagnant oil and gas sector.

While the government is keen to take an early decision on the issue, it may be looking at moderating the proposed increase — from $4.2 per million British thermal unit (mBtu) to $8.4 per mBtu. A new rate may be announced as early as this week, the sources said.