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The US has given a grant to an Indian company to carry out a feasibility study in developing resources of coalbed methane, a clean-burning natural gas, in India.
Coalbed methane (CBM) is a form of natural gas extracted from coal beds. In recent years it has become an important source of energy in United States, Canada, Australia, and other countries.
The US Trade and Development Agency (USTDA) awarded a grant to Ahmedabad-based Prabha Energy Private Limited (PEPL), a private company in India specialising in the exploration and production of coalbed methane (CBM). The amount of the grant has not been specified.
"CBM may represent a new source of clean-burning natural gas to be used as fuel by the local industrial, transportation and power sectors," the US Trade and Development Agency (USTDA) said in a statement.
"As India develops its CBM resources, US companies can provide the equipment and expertise to help India unlock CBM's potential," said Henry Steingass, Regional Director for South and Southeast Asia at USTDA.
PEPL has selected the US firm, Advanced Resources International, to carry out the feasibility study, a media release said.
Work on the feasibility study is expected to begin in 2017.
Drilling and services related to CBM exploration and development represent a significant opportunity for US firms that provide drilling rigs, gas compression and processing equipment, and geophysical logging and perforation, USTDA said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)