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Natural Gas Reserves in the Middle East and India as its Market With Promising LNG Technology for Transportation
- Publisher: European Association of Geoscientists & Engineers
- Source: Conference Proceedings, IPTC 2012:International Petroleum Technology Conference, Feb 2012, cp-280-00350
Abstract
The share of Natural Gas in global energy consumption has grown steadily and will continue to rise for the years to come.<br>Forecasted supply of compromised natural gas is in the year 2050 to be 115-120 x 10 9 toe or 13.4-14% and 228 x 209 toe of<br>remaining ultimate reserves or 12% of the total. Of the world’s two major natural gas provinces, the largest (Russia) is being<br>exploited, while the other (The Middle East) is still rather untapped-hence its bearing on future gas supplies. India with its<br>radiant market and high GDP growth rate promises to provide huge customer base for natural gas industry. Study on natural<br>gas market in India is made in this paper. The paper gives a look into the opportunities arising out of the policy initiatives<br>taken by the Government of India which are welcoming, though skewed development of the market due to regulated market<br>pricing may be deterrent.