Govt raises deepwater gas price ceiling to $9.89 per MMBtu

The government has raised the ceiling price for natural gas produced from difficult fields, including deepwater, ultra-deepwater and high-pressure, high-temperature discoveries, to $9.89 per million British thermal units (MMBtu), from $8.90 earlier. The new ceiling will remain in effect till March 31, 2027. Natural gas is used as feedstock in fertiliser production and for power generation.