‘Allocation and gas price will be decided by govt’ | business | Hindustan Times
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‘Allocation and gas price will be decided by govt’

business Updated: May 07, 2010 22:22 IST

Petroleum Minister Murli Deora, who faced flak for intervening in the gas dispute between the Ambani brothers, welcomed the SC verdict on Friday. Excerpts from his interview to HT.

What is your reaction to the Supreme Court verdict?
We have always said that gas belongs to the nation and its people. The Supreme Court has upheld the government’s stand and has clarified that the Production Sharing Contract (PSC) is the supreme contract and will overrule all other contracts.

The court has asked the two brothers to re-negotiate the terms of the family agreement. Can they rework the price?
Allocation and price of gas will be decided by the government. On part of the government, the Empowered Group of Ministers (EGoM) will continue to take a view on gas pricing. The price fixed by the EGoM is $4.2 per unit and that will form the basis for re-negotiations.

You were accused for taking sides and favouring Mukesh?
No matter what campaign one ran against the government, the nation and its interests are supreme.

What about the legislation on pricing of natural resources?
I am yet to see the fine print of the judgement. I cannot comment till I see it.