Shale Gas Revolution – Is India Ready?
International Conference on Energy and Infrastructure - International Conference Proceedings, pp. 181-187
12 Pages Posted: 6 Jan 2012
Date Written: January 3, 2012
Shale gas is an unconventional fossil fuel as compared to normal natural gas which is trapped in reservoir formed by impermeable rocks. The shale gas is stored within the pores of the shale rocks which work both as a source and the reservoir.
USA and Canada have discovered the shale gas and are effectively using shale gas as an important energy resource. The dramatic emergence of shale gas in US has been as a result of high global price in 2008
Shale gas is environment friendly; it emits fewer pollutants than coal or oil. Exploiting shale gas seems to improve the energy status-quo and help to move towards a more environmental friendly energy mix.
In the Indian context there are several issues which need to be addressed. Although India has good potential for shale gas in its basins like Cambay basin, Gondwanabasin, Assam-Arakan basin, Krishna-Godavari basin, Cauvery basin, Vindhyanchal basin, Bengal basin and Rajasthan basin etc. However, the companies like ONGC, Reliance, OIL and GSPCLhave taken initiative but the same has not yet been commercialized.
Various agencies have projected the resources based on their perceptions of Indian shale reserves from 600 to 2000 tcf.
The authors have specialization in the field of technical issues, finance and economics respectively and in the paper they have tried to evaluate the factors responsible for not having seriously undertaking the shale gas exploitation in India. The economics of such exploitations based on the US success story and the reservations expressed by the country like France have also been analyzed with a view to evolve the way forward for India.
Keywords: Shale Gas, Gas Revolution, Gas Market, Oil and Gas
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