India is all set to join the elite group of world’s top-10 gas producing nations. It is just the matter of the time to get the validation of biggest-ever natural gas discovery in the Krishna-Godavari basin by the government.
M S Srinivasan, secretary of ministry of petroleum & natural gas, said that
once the gas comes out, we would join the select club of top 10 gas producing countries.
India’s bargain power with other oil producing countries could significantly go up because of this major discovery.
According to Srinivasan, the oil well of the Bay of Bengal has reserves of about 21 trillion cubic feet (tcf). With this gas discovery, the oil reserve would go to 20,000 MW of electricity for 20 years or 4,000 MW of electricity for 100 years.