Noting that India has the potential to exploit shale gas, Union Oil Minister M Veerappa Moily informed that the proposed policy shale gas would be taken before the cabinet for approval soon.
He also said that the shale gas policy that his ministry was working on was a positive and forward-looking one. Shale gas is an important source and potential of oil world over, Moily added.
US, Canada and China are increasingly focusing on shale gas or natural gas trapped in sedimentary rocks (shale formations) below the earth’s surface. Shale gas is viewed as an alternative to conventional oil and gas for meeting growing energy needs.