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Gas output to rise more than half by 2016-17: Moily
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SME Times News Bureau | 20 Jul, 2013
Incentivised by higher prices, India's natural gas production is
projected to rise to 175 million standard cubic metres per day by
2016-17, Petroleum Minister M. Veerappa Moily said Friday.
"Gas
production will rise from 105 mmcmd in 2013-14 to 129 mmscmd in 2014-15,
139 mmscmd in 2015-16 and to 175 mmscmd in 2016-17," Moily told media
persons here.
The government in June approved pricing of
domestically produced gas at an average of the cost of LNG imported into
India and international hub, or market, rates, applying which formula
the price for gas for the April-June quarter of this fiscal comes to
$6.83 per million British thermal unit (mmBtu).
The Directorate
General of Hydrocarbons (DGH) intimated the ministry Thursday the
projections for Reliance Industries' (RIL) KG-D6 gas, as per which
average production will be 19 mmscmd for 2013-14, 17.4 mmscmd for
2014-15, 15 mmscmd for 2015-16 and nearly 20 mmscmd for 2016-17.
State-run
Oil and Natural Gas Corp (ONGC) is expected to produce 29 mmscmd from
neighbouring KG-DWN-98/2 or KG-D5 block from 2016-17.
Further,
according to DGH, Gujarat State Petroleum Corp (GSPC) will produce 5.24
mmscmd output from its KG-OSN-2001/3 block in 2016-17. Moily
said huge gas discoveries have been made in the North East, particularly
in Manipur, for which road and other infrastructure like bridges are
needed for exploration rigs to reach there. "Jubilant Energy
has already declared discovery of 0.7 trillion cubic feet in Tripura.
There is a huge prospect in Manipur which can go up as high as 7 tcf.
However, the exploration is yet to take place due to unapproachable
terrain," Moily said. "I am taking it up with the state
government (Manipur) and Planning Commission to ensure that a few
bridges are constructed," he added.
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