India to Have Natural Gas surplus in Two Years

As reported in the Asia times: A report by India's Ministry of Petroleum has said that the country will possess surplus natural gas in the next two years and its rapidly growing economy is likely to be fueled by it after major discoveries by state-run and private energy companies. Currently, India meets 70% of its energy requirements through imports.

"The major natural-gas recoveries off the east coast and aggressive acquisition of oil and gas blocks overseas might make India a gas-surplus country in another two years, and the natural fuel is all set to replace the country's agrarian-based economy," said the report. "The planned cross-country gas pipeline and city gas-distribution networks will go a long way towards influencing India's economy." ... more

If this proves to be true it could have a stabilizing effect on the cost of gas and oil supplies in the rest if the world.

Comments

[Manu Sharma]

"If this proves to be true it could have a stabilizing effect on the cost of gas and oil supplies in the rest if the world."

That's highly unlikely given that we are going to quadruple our energy consumption by 2030 and that the Natural gas makes up only a tiny fraction of it.

[Online Shopping India]

India is still exploring for gas and finding newer regions with gas reserves. thats a reason to celebrate as india can save a lot on gas imports

[outlooksoft]

With the traditional asset classes falling in value over the past couple of years, conversations about alternative assets have come more into focus.

[rajni]

nicely done