Which among the following panels have recently recommended the pricing of natural gas by a complex methodology of arriving at an average of international gas hub prices?
[A]B K Chaturvedi Panel
[B]C Rangrajan Panel
[D]Parliamentary Panel headed by Yashwant Sinha
C Rangrajan Panel
The panel headed by C Rangarajan, Chairman of Prime Minister’s Economic Advisory Council, had suggested a complex methodology to replace current gas prices. In first step, weighted average of prices prevailing at US Henry Hub, National Balancing Point of UK and netback wellhead of price of supplies into Japan was to be derived. This was to then be averaged out with actual cost of imported LNG into India. This formula has not found favour with user ministries of power and fertiliser as well as the finance ministry.