India’s domestic demand for natural gas is only growing. Prime Minister Narendra Modi’s is looking to convince the U.S. government to sell LNG to India by exempting it from the requirement of a compulsory Free Trade Agreement (FTA) during his September trip. Another source for LNG for India can be Russia which is currently facing western sanctions and is looking to Asia as a gas export destination. India can benefit from both
In recent years, U.S. oil and gas imports have declined due to the development of shale resources in the country. How will the production of shale oil, increase in oil production by non-OPEC countries, supply disruptions in West Asia and economic growth in India and China impact global crude oil prices?
India’s ability to meet its growing gas demand from shale depends on the availability of land and water, and minimising social and environmental costs. The government’s 2012 draft shale gas policy does not offer solutions. How can India create a stable investment environment for the shale gas market?
The significant shale gas deposits held by several countries, including India, have implications for global energy prices, geopolitics and climate change. But India needs to develop a strong shale gas policy that can help in lowering its trade deficit while ensuring sustainable development.