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Motilal Oswal Report
Spot liquefied natural gas prices surged to as high as $35/ metric million British thermal unit for January 2022 delivery.
To combat this impact, Gujarat Gas Ltd. took price hikes of Rs 9.5/ standard cubic meter in piped natural gas-industrial and Rs 16/scm in PNG-commercial.
Since domestic gas prices rose to $2.9/mmBtu (gross calorific ) from $1.8/mmBtu, Gujarat Gas also took a hike of Rs 2.5/kg in compressed natural gas.
Contrary to earlier instances, the pricing strategy surely confirms the management’s resolve to protect Ebitda/scm at Rs 4.5–5.5/scm.
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