GAIL is amongst the top three gainers on the BSE currently while Petronet also figures out among the top five gainers, going up to Rs.234.45, which is so close to its 52-week high of Rs.236.65.

There is good news for LNG companies – on Saturday,  Minister for Petroleum and Natural Gas Dharmendra Pradhan informed that India has renegotiated the pricing of liquefied natural gas (LNG) volumes imported from Australia’s Gorgon project. This will make LNG affordable for Indian customers.

What we learn is that that Gorgon gas price is linked to some 13-13.5% of the global oil price on a delivered basis.

This renegotiation could happen thanks to the lower crude oil prices and global supply glut, which is forcing to give better prices to India in order to retain its market share.