New Delhi: Gas output from all sources is expected to be around 105 million metric standard cubic metres per day (mmscmd) in 2013-14. By 2016-17, this is expected to touch 175 mmscmd, Petroleum and Natural Gas Minister M. Veerappa Moily told media-persons here on Friday. Moily also said the increased production of domestic gas and higher availability of imported gas was bound to result in a reduction in gas prices.
The additional gas sources also include ONGC’s block in the KG basin (KG-DWN 98/2), where it has projected to pump out 29 mmscmd of gas in 2016-17.
“One of the remarkable features is the finding in North East. Jubilant Energy had already declared the discovery of 0.7 trillion cubic feet (tcf) in Tripura. There are huge prospects in Manipur, which can go up to as high as 7 tcf,” Moily added.
However, the exploration is yet to take place due to unapproachable terrain. “I am taking this up with the Manipur Government and the Planning Commission to ensure that a few bridges are constructed to enable the rig to reach to the gas field,” the Minister said.
Last month, the Cabinet Committee on Economic Affairs gave its go-ahead for a gas pricing formula suggested by the C. Rangarajan panel. This would come into effect from April 2014 and is expected to offer the explorers nearly double the price for natural gas than at present.
No comments:
Post a Comment