Industry to pay 15% more for natural gas

The price of natural gas will rise by an average of 15 percent for non-residential users from July 10, in a move an official and analyst say will help end overcapacity in industrial sectors and boost natural gas imports.

The National Development and Reform Commission said on Friday that if gas consumption does not exceed last year's level, users will have to pay a maximum of 0.4 yuan (6.5 cents) more per cubic meter, but fertilizer producers will pay a maximum of 0.25 yuan more.

If gas consumption exceeds last year's level, the price for the excess consumption will be equal to 85 percent of that for alternative energy sources such as fuel oil and liquefied petroleum gas.