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Mr. Prashant Modi, Managing Director and Chief Executive Officer, Great Eastern Energy Corporation Limited (GEECL)

05 Nov 2015

Pricing and marketing freedom a must for CBM industry.

GEECL is the first commercial producer of Coal Bed Methane (CBM) in India. The company currently has one operating asset in Raniganj, West Bengal. GEECL’s Managing Director and Chief Executive Officer, Mr. Prashant Modi, shares his views on some of the issues being faced by CBM operations in India. Excerpts.

The government has recently announced a spate of reforms in the oil and gas sector such as market freedom for new gas fields, uniform licensing policy, pricing freedom for small and marginal fields, and replacing PSC with open acreage licensing. Being an oil and gas operator, how do you see these decisions impacting the investment climate in India?

New policies announced are welcome. Pricing and marketing freedom are keys to attracting investment. What is needed is implementation of the same at the earliest as that will attract investment.