Group CEO Robert Dudley has, in a submission to Prime Minister Manmohan Singh, also said his company’s board of directors could meet in India next month to see for themselves “the challenges and opportunities”, before they approved additional India investment.
On Monday, Dudley, along with Reliance Industries Ltd Chairman Mukesh Ambani, had met Singh and Planning Commission Deputy Chairman Montek Singh Ahluwalia to seek “clarity on pricing of natural gas from April next year”.
BP did not confirm the suggestions made. But it is understood to have suggested in a note to Singh a transition towards an “arms-length, market-determined” pricing mechanism for liquefied natural gas over a three-year period.
During this period, it suggested an additional price incentive of $1.5 per million British thermal unit (mBtu) be given to meet the high cost and exploration risks of deep-water
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