India
Gas is a national asset: Deora
New Delhi | Wednesday, Nov 4 2009 IST
Parrying comments on the Ambani brothers dispute relating to gas allocation on the ground that the matter was sub judice, Petroleum Minister Murli Deora today said the government has all along maintained that gas was a national asset and accordingly the Empowered Group of Ministers (EGoM) has taken the decisions regarding allocation and pricing of natural gas. Answering questions at the Economic Editors' Conference here, Mr Deora said the EGoM has approved the prices as per the provision of the production sharing contract, which requires the contractor to arrive at arms length principal formula and submit the same for approval of the government. He said it was in this context that the government has executed powers to both allocate the gas in terms of government priorities and approve the formula for natural gas production for KG-D6. The Minister as well as Petroleum Secretary R S Pandey refrained from making any comments on the issues relating to the dispute pending before the Supreme Court. -- (UNI) -- 04DI95.xml
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