November 14, 2018 / 6:07 AM / a month ago

India's gas regulator invites bids for new round of city gas distribution

NEW DELHI, Nov 14 (Reuters) -

* India’s gas transportation regulator Petroleum and Natural Gas Regulatory Board (PNGRB) invites bids for setting up city gas network in 50 areas, said DK Sarraf, regulator chairman

* Sarraf said on Wednesday that PNGRB aims to award contracts for the new round by end of February 2019

* The 50 areas up for bids will cover 24 percent of population, while the previous round of city gas bids covered 26 percent of population

* This was the tenth round of city gas bids, and along with other previous rounds, it would cover 14 of the 15 most populated cities of India, he said

* India has a target to raise the share of natural gas in the overall energy basket to 15 percent by 2030 from 6.5 percent

* PNGRB is targeting to provide connection to all households in the area within 8 years of the contract win - Sarraf (Reporting by Nidhi Verma)

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