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Attracting investment to the global natural gas market. Fair price for natural gas considering its energy efficiency and environmental benefits. As the outcome of the 5th Gas Exporting Countries Forum in Malabo The Declaration of Malabo was published. It stressed the importance of the role of natural gas for African countries.
Using natural gas for heating, cooking and electricity generation is not economical as more and more locally produced natural gas will be converted into LNG for use in the transport sector to reduce crude oil imports. [40] [41] Conversion of old diesel fueled heavy duty vehicles into LNG vehicles would restore original performance economically.
The Strategic Opportunities Fund made its next investment in May 2022 in Ather Energy, an electric two-wheeler company. This was its first direct investment in the manufacturing sector and in electric mobility, both areas of national importance given India's green mission and decarbonisation goals. [60]
A sovereign wealth fund (SWF), or sovereign investment fund, is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity funds or hedge funds. Sovereign wealth funds invest globally.
The first gas discovery in the basin was in 1983, in Razole Well No 1, when ONGC had a small office in Rajahmundry and Narsapur. Since that discovery Reliance and others have joined the exploration effort. 14 trillion cubic feet (0.4 trillion cubic metre) of gas by Reliance Industries in KG-DWN-98/l (KG-D6) in 2006.
A 2007 study found that as of May 2004, there was roughly 8 trillion cubic feet (Tcf) of commercial gas storage capacity in the US, with about 4 Tcf needed to always remain in storage as base gas. Base gas is needed in order to provide enough pressure for gas to be withdrawn on demand. Therefore, total working storage capacity is about 4 Tcf.
The Petroleum Conservation Research Association (PCRA) is an organization established in India in 1978, under the aegis of the Ministry of Petroleum and Natural Gas of Government of India that is engaged in promoting efficient energy use in various sectors of the economy.
India imports small amounts of natural gas. In 2004, India consumed about 1,089 × 10 ^ 9 cu ft (3.08 × 10 10 m 3) of natural gas, the first year in which the country showed net natural gas imports. During 2004, India imported 93 × 10 ^ 9 cu ft (2.6 × 10 9 m 3) of liquefied natural gas (LNG) from Qatar. [16]