India holds 100 Tcf of gas reserves, enough to meet half of demand till 2050: BP chief


India holds 100 Tcf of gas reserves, enough to meet half of demand till 2050: BP chief

UK supermajor BP chief executive Bob Dudley on Monday said there are 100 trillion cubic feet of yet-to-be-discovered natural gas reserves in India that would be enough to meet half of the nation’s gas demand till 2050. BP in partnership with Reliance Industries is investing about $5 billion to bring about 1 billion cubic feet a day of new domestic gas onstream beginning mid-2020, he said.

Also, the company is expanding the partnership into fuel retailing that will entail scaling up RIL’s present network of 1,400 petrol pumps to 5,500 by 2023. These pumps, besides retailing petrol and diesel, would also have electric vehicle charging facility, he said.

“India has a great opportunity with gas too, the ideal partner for renewables, which are intermittent by nature,” he said at the India Energy Forum of CERAWeek here. “I believe that there is close to 100 Tcf of natural gas resources yet to be found below ground here in India. Read More

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