The hike is attributed to the rising prices of spot liquefied natural gas (LNG). In January 2023, the price of industrial gas was Rs 47.93/scm.
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New Delhi: Gujarat Gas has increased the price of industrial gas by ₹2.50 per standard cubic meter (scm) to Rs 40.83/scm, effective from August 21. This is the first price hike by the company after five consecutive cuts in 2023. The hike is attributed to the rising prices of spot liquefied natural gas (LNG). In January 2023, the price of industrial gas was Rs 47.93/scm.
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Gujarat Gas had cut the price by Rs 9.50/scm in February, followed by another cut of Rs 5/scm in March. In April, May, and June, the company reduced the price by Rs 2/scm each, as per a report in the Mint.
The latest price hike is likely to impact industries such as fertilizers, chemicals, and textiles.
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Statement From Gujarat Gas
“GLL operates on a toll model and offers regasification services to users for a fee. In addition to this, the company also offers LNG tanker truck loading services to users which supports the development of small-scale LNG business to customers who are not connected to pipeline networks. The LNG terminal of GLL is also equipped to undertake the reloading of LNG ships. Storage and reloading of LNG can be developed as an alternate line of business in the future,” Gujarat Gas said in a statement.
