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India Details Policy for Gas Pipelines

India detailed a policy for natural gas pipelines and urban distribution networks

India Wednesday detailed a policy for natural gas pipelines and urban distribution networks, which will facilitate private and state sector investment in the country's fledgling pipeline sector, Petroleum and Natural Gas Minister Murli Deora said, Dow Jones reported.

"The policy aims to facilitate open access for all players to the pipeline network and to promote competition among entities, thereby avoiding any abuse of dominant position by any entity" Deora told a press conference.

A separate regulatory body is being established to choose entities to build and operate such networks, the minister said.

India will allow foreign investment of up to 100% of a project's cost.

India's domestic natural gas production is expected to triple in the next two to three years from around 30 million metric cubic meters a day, increasing the need for networks to distribute gas.

The country plans to import large quantities of natural gas through transnational pipelines and liquefied natural gas to supplement domestic supplies.