The oil and gas sector is one of the core industries in India and contributes in a significant manner to the country’s gross domestic product (GDP). With the expansion of the country’s industrial sector, India’s oil and gas requirements are growing at a fast pace. This has created an urgent need to discover new areas of exploration. At the same time, technological advancements have led to much better methods of extraction and thus have led to a significant improvement in productivity. While greater demand needs to be met through an increase in gas production, the Indian gas sector also requires a proper mechanism for pricing, to insulate the industry as well as the consumers against frequent and sometimes alarming global price fluctuations. A few top level public sector undertakings dominate the domestic gas industry, but recently some private companies have also come up in a major way in this regard. Hide this