The Indian government is hoping that the exploitation of shale gas reserves will help to boost its economy and reduce reliance on costly imports of oil.
India’s Oil and Natural Gas Corp (ONGC) says that it will start commercial drilling for shale gas in 2014 after the country’s government gave the go-ahead for state-owned firms to undertake fracking.
India could have up to 96 trillion cubic feet of recoverable shale gas reserves, according to the US Energy Information Administration (EIA), and is keen to exploit these reserves to help meet rising energy demand and improve energy security.
ONGC and Oil India hold around 350 blocks that could be explored for shale gas, an unconventional source of natural gas held in the tiny pores of rocks deep underground.
India produces just under 2 million TJ of natural gas per year, and imports a further 500 000 TJ. Around 43 per cent of its natural gas supplies are used on power plants.
