The Indian Natural Gas Regulatory Authority has been conducting a market analysis of gas from shale gas reserves in the Ganga basin of India, with the results expected to be released by June 2018.
The results of the study, published by the IGIRA, will be a key part of the next phase of the country’s gas policy, which has seen the government announce an additional $20 billion to tackle the shortfall in the domestic gas supply, with a view to eventually generating at least $1 billion a year.
The results of IGIAR’s survey of gas reserves from the Ganges basin of the Andaman and Nicobar Islands and the neighbouring Lakshadweep basin will be made available in July 2018, and an initial review of the market will take place in 2019.
The government, which is currently in the process of finalising its gas policy with a target of generating at most $1.5 billion a day, will not release its final decision on the market until 2019.
The IGIARY is expected to have a report on gas reserves by 2020, with recommendations to be implemented.
The Indian government has said that its gas sector would be ready for the world market by 2021, with an estimate of a peak gas demand of 1.1 trillion cubic metres.
The report from IGIARD will be an indicator of the gas market’s strength and health, and will be reviewed periodically to make sure that the gas supply system remains sustainable, according to IGIARA chairman Anil Raghavan.
“It will also help us assess the regulatory framework for gas exploration, production and distribution,” Raghavans statement said.
“We have received a number of reports that the regulatory regime is quite complex, and we are also looking at different forms of regulation.
We are not looking at the same rules for all the gas reserves.
We have been conducting market analysis to determine the market structure for the gas sector, and the market analysis will help us in deciding whether or not to create a market structure in the future.”
The IgiAR report is a key indicator of India’s gas market as the Indian government aims to achieve an increase in domestic gas production by 2019.
Currently, India is the world’s largest producer of gas, and has a total gas supply of about 1,400 trillion cubic feet, or 5.8 billion million cubic meters.
India has been looking at ways to boost its gas production, and have been trying to tap the Gampas natural gas reserves, which have an estimated potential of about 10 billion cubic feet.
IGIARI’s study of gas resources from the Andamans Ganga Basin, and Lakshadwep Ganga, and Nicaroban, and Naxalbari, and Arunachal, and other Ganga reserves in India will help in determining the best path to achieving a gas surplus by 2020.