India introduce Shale Gas Policy next year

India to introduce Shale Gas Policy next year

1:42 AM, 15th March 2012
India to introduce Shale Gas Policy next year
Jaipal Reddy, Minister of Petroleum and Natural Gas, India.

NEW DELHI, INDIA: Jaipal Reddy, Minister of Petroleum and Natural Gas, India informed that a tentative Shale Gas Policy will be announced by 31 March 2013. The Shale Gas policy is to be finalized after incorporating views of the concerned ministries and departments. “Announcement of Shale Gas Policy will depend on completion of the consultation process with all the concerned authorities, including environmental safeguards required to be put in place under the regulatory regime for Shale Gas exploration and production,” said Reddy.

India signed a Memorandum of Understanding with US on Shale Gas Resources in November, 2010. Under the MOU, both the countries would cooperate in the following areas of Shale Gas development- Shale Gas resource assessment in India, technical studies on Shale Gas exploration in India, share best practices on establishing a regulatory framework and safeguard measures for the sustainable development of Shale Gas, promoting sustainable domestic and foreign investment in Shale Gas development.

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