The petroleum ministry will approach a ministerial panel for a road map on a gas price pooling mechanism to help the power sector absorb the high costs of imported liquified natural gas (LNG) and prevent investments of over R1 lakh crore from becoming non-performing assets.

Petroleum minister M Veerappa Moily said on Wednesday that he will move a note for the consideration of a high-powered ministerial group to change priority of allocation of the fuel as well as pooled pricing of imported and domestic gas. Moily was talking to reporters after meeting with a delegation of power producers including Anil Ambani (Reliance Power), GM Rao (GMR) and Madhusudan Rao (Lanco).