A rather optimistic Bob Dudley, Group CEO of BP Plc, believes India still has vast quantities of unexploited natural gas.
At the India Energy Forum by CERAWeek event here, Dudley said: “I believe there is close to 100 trillion cubic feet (TCF) of natural gas resources yet to be found below ground here in India. That in itself can meet half of the natural gas demand out to 2050.”
But a lot will depend on how the economics works out. “India also has the right resources above and below ground. It has the relationships in place to maximise those resources.
And it has responsible policy in place to enable those relationships to run effectively and efficiently,” he added.
However, developing these resources is not cheap and it will be about good economics. East Coast deepwater has natural gas, but it is very expensive to develop and, to develop, the economics of price has to be good for the developer, too, he hinted in a quick chat with the media.
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