With the government initiating pricing reform in the natural gas sector, it plans to release the shale gas policy shortly and auction blocks for producing the unconventional fuel, media reports indicate.
Also, the government will launch tenth bidding round for oil and gas blocks under new policy, media reports suggest.
As part of its overall economic reform initiative, the government the government recently raised the price of domestic natural gas to $8.4 per unit from the present price level of $4.2 on the basis of the recommendation of the Rangarajan Committee.
Following this move, the government is reportedly hopeful of attracting investment in the oil and gas sector.
The revised price regime has already revealed the price for shale gas since the new regime applies to entire basket of domestic natural gas production irrespective of the source, reports suggest.
In the next few weeks, the government would release the shale gas policy. The ministry of petroleum and natural gas was expected to place draft shale gas policy before the cabinet in March.
However, it was delayed as the government decided to go ahead with uniform gas pricing policy, which was announced recently.
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