NEW DELHI: The Government will approach global markets for long term gas supply pacts in view of low prices of the fuel, Power Minister Piyush Goyal said today.

"I will be approaching the world market to see if we can get gas for may be seven or five years on reasonably low cost of fix price. That could be a game changer for the industry", Goyal said at the sidelines of an Assocham event.

He further said: "We have to go through the proper bidding process but considering the prices are low at this stage and the world is looking at clean energy...(government) will approach world market (directly)."

The Government is already running a Power System Development Fund (PSDF) scheme to ensure supply to stranded gas-based power projects and plants running at sub-optimal levels due to lower supplies.