As reported in the Asia times: A report by India's Ministry of Petroleum has said that the country will possess surplus natural gas in the next two years and its rapidly growing economy is likely to be fueled by it after major discoveries by state-run and private energy companies. Currently, India meets 70% of its energy requirements through imports.
"The major natural-gas recoveries off the east coast and aggressive acquisition of oil and gas blocks overseas might make India a gas-surplus country in another two years, and the natural fuel is all set to replace the country's agrarian-based economy," said the report. "The planned cross-country gas pipeline and city gas-distribution networks will go a long way towards influencing India's economy." ... more
If this proves to be true it could have a stabilizing effect on the cost of gas and oil supplies in the rest if the world.
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