Ajit Karn
With effect from April 8, Adani Total Gas Ltd (ATGL) reduces the cost of CNG by up to Rs 8.13/kg and the price of PNG by up to Rs 5.06/scm.
Adani Total Gas Ltd (ATGL) applauds the Government of India’s historic decision to link the Administered Price Mechanism (APM) Price for gas supply to CNG vehicles and residential households to 10% of the Indian crude basket, with a floor of $4 and a ceiling of $6.5 per MMBTU, according to a press release. (ATGL).
“In accordance with our policy to prioritize our end consumers, ATGL has decided to pass through the benefit of the New Gas Pricing guidelines announced by the Government of India to the large number of Home PNG and CNG consumers, thereby enhancing the affordability of PNG and CNG with savings of over 40% for CNG consumers as compared to Petrol prices and around 15% for Home PNG consumers as compared to LPG prices,” read the statement.
“Effective tonight at midnight, ATGL is delighted to announce a reduction in the price of CNG to Rs 8.13 per kilogram and PNG to Rs 5.06 per cubic centimeter. The reduction of CNG and PNG gas prices in our various Geographical Areas (GAs) across the nation is detailed in the table appended to this statement.
ATGL believes that this historic decision by the Government of India to reform gas prices will act as a growth catalyst to increase the footprint of Home PNG and CNG vehicles rapidly, thereby achieving the Government’s vision of increasing the share of natural gas in India’s energy basket from 6.5% to 15% by 2030.
The substantial reduction in CNG and PNG prices will provide much-needed relief to the vast number of CNG and PNG consumers across the nation and in ATGL GAs.
In addition to the price reductions of CNG and PNG as a consequence of the new Gas Price Guidelines, ATGL is pleased to announce a Rs 3.0 per scm reduction in PNG prices for industrial and commercial consumers in its geographical areas (GAs).
“This will allow our industrial and commercial customers to consume greater quantities of natural gas, thereby contributing to the environment and optimizing their product costs,” the document stated.
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“ATGL is one of the largest CGD private listed CGD companies currently supplying CNG and PNG to over 3 lakh CNG users across our 460 CNG stations in India,” the statement continued.
