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ICICI Direct Report
The Petroleum and Natural Gas Regulatory Board has hiked the Integrated Natural Gas Pipeline tariff of GAIL India Ltd. to Rs 58.61/metric million British thermal unit (on a gross calorific value basis) with effect from April 1, 2023.
This revision is a 45% hike in tariff from current prices.
Total 10 pipelines have been considered as a single integrated entity by PNGRB for tariff revision and have been granted an economic life up to 2049.
Newer pipelines such as Jagdishpur-Haldia-Bokaro-Dhamra Natural Gas Pipeline have been provided with 10 years utilisation ramp up period. Thus, INGPL is expected to reach its peak volume of 131.6 million metric standard cubic metre per day (75% utilisation of 175.5 mmscmd design capacity by 2034).
In spite of this tariff hike, the impact on downstream companies like city gas distributions is likely to be limited (around Rs 0.5-0.6/standard cubic metre).
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