Tuesday, January 30, 2007

Energy Updates

The Indic View wrote about the prospect of Gas Hydrates in India. Methane gas hydrates worldwide have been estimated to hold some 400 million tcf (trillion cubic feet) of gas. Worldwide all known natural gas reserves total some 5000 tcf. That means hydrates hold 80,000 times as much gas as natural gas reserves. In fact, India is estimated to have gas hydrate reserves of around 1,894 trillion cubic metres (67,000 tcf).

In the mean time, Cairns Energy finds more oil in Rajasthan.

The Pakistani newspaper wrote about the importance of IPI (Iran-Pakistan-India) Gas pipeline. It is known that Iran, Pakistan and India have agreed on a formula for setting a rate for Iranian gas, the main point of dispute. India should concentrate on buying more gas from Iran and Turkmenistan. Interestingly, the Kashmir condition did not block the negotiations.

Meanwhile, India is eyeing stakes at Sakhalin-III as a continuation of Sakhalin-I where they already have stakes. A Russian company, Gazprom, has asked India to let them join IPI project as a contractor. Vladimir Putin himself backed India for the deal.

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