A Comprehensive Energy Policy will Drive the Growth of the Indian Gas Industry and Attract Foreign Investments

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A Comprehensive Energy Policy will Drive the Growth of the Indian Gas Industry and Attract Foreign Investments Powered By Docstoc
					           A Comprehensive Energy Policy will Drive the Growth of the
              Indian Gas Industry and Attract Foreign Investments
       Reference Code: GDGE0633VPT                                                                                                          Publication Date: May 2010


       1         Table of Contents                                                                  2       Summary
       1 Table of Contents.................................................................1        A significant portion of India’s natural gas demand can be met
        1.1 List of Tables .................................................................1       by its natural gas resources over the short-term. Despite
        1.2 List of Figures................................................................1        significant gas discoveries, the Indian natural gas industry has
       2 Summary .............................................................................1     not gained sufficient positive momentum. The regulated price
       3 A Comprehensive Energy Policy will Drive the Growth of the                                 market has been one of the major factors for the delay of the
         Indian Gas Industry and Attract Foreign Investments ..........1
                                                                                                    development process. Additionally, the country does not have a
        3.1 Increasing Reserves Are Favoring the Growth of Indian
             Natural Gas Industry .....................................................1            unified, transparent and comprehensive energy policy, which
        3.2 Government Controlled Gas Prices Deter Foreign                                          would improve economic clarity, accelerate the approval
             Investments and Domestic Exploration Investments .....2                                process and encourage foreign and domestic exploration
        3.3 Initial Measures By the Government are Not Adequate                                     investments. An unambiguous energy policy framework from
             to Boost the Natural Gas Industry .................................3                   the government should provide a commercially viable price
        3.4 Despite Being Regulated, the Immense Unexplored
                                                                                                    fixation mechanism to boost domestic natural gas production
             Potential Attracts Oil and Gas Majors............................4
        3.5 Lack of Robust Policy Framework will Delay the Indian                                   and exploration activities. The implementation of new policy
             Natural Gas Industry Development ...............................4                      would impel the domestic and overseas oil and gas majors to
       4 Appendix..............................................................................5    make the investments required to drive the country’s natural
        4.1 Methodology..................................................................5          gas production and exploration activities.
          4.1.1     Coverage..............................................................5
          4.1.2     Secondary Research............................................5                 3      A Comprehensive Energy Policy will
          4.1.3     Primary Research ................................................5                     Drive the Growth of the Indian Gas
          4.1.4     Expert Panel Validation ........................................6
        4.2 Contact Us ....................................................................6               Industry and Attract Foreign
        4.3 Disclaimer .....................................................................6              Investments
                                                                                                    India is experiencing a drastic increase in energy demand due
                                                                                                    to increasing internal demand and rising industrial consumption.
       1.1       List of Tables                                                                     A major portion of the Indian energy demand is met by imports.
       Table 1: India, Oil and Gas Reserves, 2005-2009.....................2                        Despite having adequate domestic reserves, the country did not
       Table 2: India, Exploratory and Development Drilling, 2004-                                  witness a significant increase in domestic oil and gas
                  2009 .........................................................................2   production in 2004-2009. The homegrown oil and gas majors
                                                                                                    could not capitalize on the reserves due to prices being
                                                                                                    regulated. Moreover, the subsidized prices have led to
       1.2       List of Figures                                                                    undercover losses for the domestic oil and gas majors. The
                                                                                                    country’s conventional regulated price market has also
       Figure 1: GlobalData Methodology ..........................................5                 discouraged the participation of overseas oil and gas majors.
                                                                                                    The extended time-line for block allocation, the low
                                                                                                    transparency in allocation, the lack of a robust regulatory body
                                                                                                    and policy has dissuaded foreign investments.

                                                                                                    3.1      Increasing Reserves Are Favoring the
                                                                                                             Growth of Indian Natural Gas Industry
                                                                                                    Natural gas contributed 24% of the global energy consumption
                                                                                                    in 2009, whereas the share of natural gas in the total energy
                                                                    
				
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Description: A Comprehensive Energy Policy will Drive the Growth of the Indian Gas Industry and Attract Foreign Investments Summary A significant portion of India’s natural gas demand can be met by its natural gas resources over the short-term. Despite significant gas discoveries, the Indian natural gas industry has not gained sufficient positive momentum. The regulated price market has been one of the major factors for the delay of the development process. Additionally, the country does not have a unified, transparent and comprehensive energy policy, which would improve economic clarity, accelerate the approval process and encourage foreign and domestic exploration investments. An unambiguous energy policy framework from the government should provide a commercially viable price fixation mechanism to boost domestic natural gas production and exploration activities. The implementation of new policy would impel the domestic and overseas oil and gas majors to make the investments required to drive the country’s natural gas production and exploration activities. Scope - Analyses the impact of regulated natural gas prices on the growth of the Indian natural gas industry. - Discusses the potentiality and attractiveness of the domestic natural gas resoruces. - Discusses the dependence of India on energy imports. - Discusses need for India to pursue a robust unified energy policy, which supports natural gas industry development. Reasons to buy - Understand the need for comprehensive energy policy in India to advance its energy security needs. - Gain understanding on some of the reasons for formulating the comprehensive energy policy and how it will influence foreign investments in India's gas sector.
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