India’s Gas Share is 6.5% India’s Fuel Basket; World’s - 23.5%

Q.  Which of the following is/are true?

1) Share of natural gas in India’s fuel basket is around 15.5%.
2) It is very close to the world average of 17.5%.
- Published on 20 Jul 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Neither 1 nor 2
 
India’s present natural gas share in the country’s fuel basket is a mere 6.5% vis-a-vis the world average of 23.8%. Various measures have been initiated to increase the present level of gas share in the county’s fuel basket to meet the demand of natural gas in the country like -
  • New Hydrocarbon and Exploration Licensing Policy (HELP).
  • Marketing and Pricing freedom for new gas production from Deepwater, Ultra Deepwater and High Pressure-High Temperature areas subject to certain conditions.
  • Gas price has been linked to the market/ important hub prices.
  • Policy for exploration and exploitation of Shale Gas/Shale Oil resources by NOCs under the Nomination Regime.
  • Re-assessment of Hydrocarbon Resources Etc.

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