Energy-starved India to become a net importer of natural gas as Reliance Industries demands price 'clarity'

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SummaryIndia's position growing bad to worse as RIL eyes price hike-5 tn cubic feet discoveries lying idle.

USD 7.50 per mmBtu. The South American nation too imported LNG at up to USD 15 per mmBtu rate, quite similar to the position in India.

Neighbouring Pakistan too has announced a new exploration policy giving price of USD 7 for shallow water finds, USD 8 for deepsea discoveries and USD 9 for ultradeep exploration.

China too has offered subsidises to energy companies who develop the nation's shale-gas resources, in an effort to jump-start the sector by lowering production costs.

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