Shale Oil & Gas in India

International Journal of Thermal Engineering

© 2017 by SSRG - IJTE Journal

Volume 3 Issue 2

Year of Publication : 2017

Authors : B.Vijay Kumar, Ashutosh Kumar, C.Raghavendran, V.Akash, A.Mohamed Tharik

10.14445/23950250/IJTE-V3I2P101

How to Cite?

B.Vijay Kumar, Ashutosh Kumar, C.Raghavendran, V.Akash, A.Mohamed Tharik, "Shale Oil & Gas in India," SSRG International Journal of Thermal Engineering, vol. 3,  no. 2, pp. 1-7, 2017. Crossref, https://doi.org/10.14445/23950250/IJTE-V3I2P101

Abstract:

Shale oil & gas is rapidly emerging as a significant and relatively low cost new unconventional resource in the world. There is potential for shale oil & gas production to spread globally over the next couple of decades. If it does, it would revolutionise global energy markets, providing greater long term energy security at lower cost for many countries. Our analysis suggests that global shale oil & gas production has the potential to reach up to 14 million barrels of oil per day by 2035; this amounts to 12% of the world’s total oil supply. We estimate that this increase could reduce oil prices in 2035 by around 25%-40% relative to the current baseline EIA projection of $133/barrel in 2035, which assumes low levels of shale oil & gas production. In turn, we estimate this could increase the level of global GDP in 2035 by around 2.3%- 3.7%. However, the benefits of such oil price reductions will vary significantly by country. Large net oil importers such as India and Japan might see their GDP boosted by around 4%-7% by 2035, while the US, China, the Euro zone and the UK might gain by 2%-5% of GDP. Conversely, major oil exporters such as Russia and the Middle East could see a significant worsening of their trade balances by around 4%-10% of GDP in the long run if they fail to develop their own shale oil resources. The potential emergence of shale oil presents major strategic opportunities and challenges for the oil and gas industry and for governments worldwide. It could also influence the dynamics of geopolitics as it increases energy independence for many countries and reduces the influence of OPEC. The potential environmental consequences of an increase in shale oil & gas production are complex and appropriate regulation will be needed to meet local and national environmental concerns. Shale oil & gas could have adverse environmental effects by making alternative lower carbon transport fuels less attractive, but might also displace production from higher cost and more environmentally sensitive plays.

Keywords:

Shale oil, Shale gas, Energy Needs, Mapping, Merits, Demerits

References:

[1] http://www.naturalgaseurope.com/indian-shale-gas-unique-challenges-and-solutions-4927
[2] http://www.deccanherald.com/content/44366/shale-gas-game-changer-india.html
[3] http://www.dghindia.org/NonConventionalEnergy.aspx?tab=2
[4] http://www.thehindubusinessline.com/companies/india-takes-its-first-step-into-shale-gas-oilexploration/ article5390558.ece
[5] http://www.business-standard.com/article/economy-policy/3-phase-plan-for-shale-gas-exploration-by-ongc-oil- 113102200828_1.html
[6] http://articles.economictimes.indiatimes.com/2013-09-25/news/42362315_1_shale-recourses-conventional-oil-andgas- gas-exploration
[7] http://www.thehindu.com/news/cities/Delhi/shale-gas-policy-a-game-changer-or-spoiler/article4924493.ece
[8] http://articles.economictimes.indiatimes.com/2010-08-25/news/27572778_1_shale-gas-first-basins-efficientlylarge- quantities
[9] http://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/Documents/shale-gas-globalperspective. pdf
[10] http://csis.org/files/publication/120824_Nakano_ProspectsShaleGas_Web.pdf
[11] http://www.deloitte.com/assets/Dcom-india/Local%20Assets/Documents/ER%20publications/Shale%20Gas%20- %20Strategic%20Imperative%20for%20india.pdf
[12] http://thediplomat.com/2013/06/indias-shale-gas-boom-dream-or-reality/
[13] http://www.globalwaterforum.org/2013/04/30/shale-gas-in-india-the-wrong-path/
[14] http://www.ey.com/Publication/vwLUAssets/Shale_Gas_-_Key_considerations_for_India/$FILE/EYIN1210-084- Shale-gas.pdf
[15] http://forbesindia.com/article/special/is-india-ready-for-shale-gas/35167/1
[16] http://www.business-standard.com/article/companies/indian-cos-are-looking-beyond-me-cis-countries-to-meetenergy- needs-thomas-milroy-114013100331_1.html
[17] http://www.deccanherald./chcbscscbhjsaantent/44366/shale-gas-game-change