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State-run GSPC Gas Company Ltd on Monday announced reduction in PNG prices for its industrial consumers.
PNG prices have been reduced by Rs 2 per standard cubic metre (scm) with effect from November 16, 2014, an official statement informed. As against the previous price of Rs 41.65 per scm excluding tax, the revised PNG prices for GSPC Gas' industrial consumers now stands at Rs 39.65 per scm from November 16 onwards, the statement added.
The revision in natural gas prices is attributed to the recent changes in international prices. "Given the current status of natural gas prices in the international market, GSPC Gas Company has decided to reduce piped natural gas (PNG) prices for its industrial consumers with effect from November 16, 2014," the company said in an official statement.
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