Bringing in reforms in natural gas marketing, the Union Cabinet on Wednesday approved a standardised bidding process for gas prices.
Briefing the media after the meeting, Union Petroleum Minister Dharmendra Pradhan said that the Directorate General of Hydrocarbons (DGH) will suggest an e-bidding platform for users.
He noted that producers will have a choice to opt for a platform and transparent and open bidding process to be conducted for price discovery.
Further, post the latest decision, the producing company cannot participate in the bidding process, while affiliate companies can participate in the bidding process.
