Base price of domestic natural gas comes to around $7.4 per mBtu

Analysts may be seeing a positive for Reliance Industries Ltd (RIL) in the Rangarajan panel’s recommendations on gas pricing, but the committee’s formula would work out the natural gas price at less than what RIL has been seeking for its KG-D6 block produce. Based on the panel’s formula, the base price of domestic natural gas comes to around $7.4 per million British thermal unit (mBtu), but the pricing formula proposed by RIL, officials say, translates the price into $13-14 an mBtu.