Union Minister for Petroleum and Natural Gas Veerappa Moily informed reporters that his ministry is in the process of revising the coal-bed methane policy introduced in 1997 in order to suit present conditions.
He said the ministry would discuss with the coal ministry in this regard.
Meanwhile, Moily said his ministry would be putting before the cabinet its shale gas policy in the next 15 to 20 days.
Shale gas or natural gas is the gas that is trapped in sedimentary rocks below the earthÂ’s surface. This is said to be available in six basins in India, including Cambay, Assam-Arakan, KG onshore and Cauvery onshore basins.
India can achieve self-sufficiency in energy by 2030 by unleashing the immense potential in the shale gas sector, the minister said.
The ministry aims to achieve 50 per cent self-sufficiency in energy by 2020, 75 per cent by 2025 and become self-reliance by 2030. Shale gas and CBM will form significant part of this mission, he said.
Although production sharing contracts have been signed by both foreign and Indian investors, shale gas blocks could not take off owing to Defence and environment objections.
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