India's biggest gas marketer Gail India said the long-term gas import contract with Australia's Gorgon project for about $15.67 per unit price is too high and does not reflect market reality, prompting the state firm to ask the importer, Petronet LNG (PLL), to renegotiate the contract. Gail's statement follows demands from some energy firms for import-parity price for domestically produced natural gas. These firms criticised the recently approved pricing formula propounded by the the Rangarajan
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