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NELP yielding results, says Naik

Stating that huge gas discoveries by Reliance and other new finds will help in bridging the demand-supply position in the energy sector, the government on Tuesday said it was testimony to the fact that the New Exploration Licensing Policy has started yielding results.

The NELP had resulted in the awarding of 70 new blocks during the last three years as against 22 blocks awarded during the previous 10 years, Petroleum Minister Ram Naik said replying to supplementaries during Question Hour in Rajya Sabha.

"The new NELP policy which has been taken up has started yielding good results," he said.

He said as per the Hydrocarbon Vision 2025, a total of 231 million metric standard cubic metres per day of gas will be required by 2006 as against the current availability of 65 mmscmd.

He said besides the Reliance and other discoveries, which would have to start the actual supply of gas potential, the government was hopeful of more new finds.

On LNG projects, Naik said that Petronas has entered into an agreement with Qatar for supply of LNG, which will start from next year.

Naik told Ashwini Kumar (Congress) that despite gas finds in the country, LNG would be required taking into consideration the huge requirement of gas.

UNI

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