Govt to develop framework for shale gas exploration

The government today said it would develop a policy framework to allow commercial exploitation of shale gas reserves in the country. Hydrocarbon found in the form of shale gas has over the past few years transformed the energy scenario for the world’s biggest consumer, the US. Leading Indian energy companies have shown interest in developing this resource. 

Reliance Industries Ltd recently acquired a 40 per cent stake in Atlas Energy’s Marcellus Shale acreage in the US. “Shale gas is an emerging area. It has become an important source of energy in a few countries. We have initiated action to develop a framework for assessment of resource potential (of shale gas) which would lead to exploitation of this resource. Our intention and endeavour is to put in place a policy framework in about a year,” Petroleum Minister Murli Deora said.