Shale Gas: Energy Security in India

Date: March 05, 2015

shale gas energy security India.U.S.

SHALE GAS- A GAME CHANGER IN ENERGY SECURITY

In order to explore the shale gas and oil potential in the country, the Government of India has notified the Policy Guidelines for Exploration and Exploitation of Shale gas and Oil by National Oil Companies. At present, the exploration of shale gas and oil is at a nascent stage. ONGC has drilled two wells and the third well is being drilled in the Cambay basin, Gujarat. In addition, ONGC has collected cores in prospective shale formations from another 9 wells.

Shale Gas-

Shale gas is natural gas stored deep underground in fine-grained sedimentary rocks.

Shale gas extration- 

The shale gas can be extracted using a process known as hydraulic fracturing – or “fracking” – which involves drilling long horizontal wells in shale rocks more than a kilometre below the surface.Massive quantities of water, sand and chemicals are pumped into the wells at high pressure. This opens up fissures in the shale, which are held open by the sand, enabling the trapped gas to escape to the surface for collection.

Fracking Technology-

Fracking, or hydraulic fracturing, is the process of extracting natural gas from shale rock layers deep within the earth.

 

prepareias

Shale gas and energy security-

The shale boom helped US to produce nearly 15% of the global crude oil thereby significantly reducing its imports. The yearly growth of US crude oil production is around 1-1.2 MMB/D against the world demand growth of 0.8 MMB/D. The increase in oil and gas production in the United States of America is one of many possible factors helping in lowering of international prices of crude oil and spot prices of LNG. This has resulted in a lower crude oil import bill. This has also led to a reduction in prices of petroleum products like petrol, diesel, ATF, SKO, LPG, etc., thereby benefiting the consumers.

India's Case-

Shale gas would be a “game changer” for India. India is a fast developing country and energy is pivotal to maintain its steady economic growth, stability, and development. India is the third-largest energy consumer in the world,so it is placing high hopes on its own “shale gas revolution.”