Indian coasts, including that in Kochi, are rich in natural gas reserves, according to a survey. Reports suggest that the new discovery would help India meet its energy needs for another 300 years.
Kochi Coast, Krishna-Godavari basin and Cauvery basin were found with almost 130 million cubic feet hydrate gas accumulations. The survey was conducted by American Geological Survey.
The survey also reports that one-third of this reserve was found on the Kochi Coast. It is believed to be the biggest Natural Gas Reserve till date. India would work on advanced technology to use this treasure to benefit itself on the economic front.
Hydrate gas could be used as vehicle fuel apart from its domestic and economic use. Only six and a half per cent of India’s energy consumption is filled by gases. The hydrate gas is found in the form of ice as underwater reserves.
A majority of this natural gas reserve is found in America. Countries like America, Japan and Canada are still working on developing technologies to use this gas economically.
Work on developing technology started
India along with Oil- Natural Gas Corporation (ONGC), US Geological Survey and Japanese Drilling Company have already started working on developing more advanced technology to use this gas effectively. The cost of production will be met by Oil Industry Development Board (OIDB), ONGC, GAIL, Oil India, Indian Oil Corporation. OIDB has already provided 200 crores.
ONGC chairman Sasi Sankar has said that a centre to study and conduct research on Hydrate natural gas would be opened shortly in Panvel, Mumbai. The first experimental project on developing more advanced technology would be conducted on the Krishna-Godavari basin.
At the beginning of the next financial year the work on this would be already started. If this experiment runs successful then nothing could stop India from becoming an economically powerful nation.