India’s total energy requirement is projected to grow at 6.5% per year till 2016-17.
OVL’s overseas investments have crossed $14 billion (Rs 74,858 crore). Among 15 countries where OVL has projects, only three are in West Asia — Iran Iraq and Syria. The others are in Vietnam, Sudan, Cuba, Brazil, Venezuela, Russia, Myanmar, Colombia, Nigeria and Kazakhstan.
“In the 12th plan, we’ve stressed the need to diversify our energy sourcing to meet growing demand. Shale gas can be a game-changer,” Montek Singh Ahluwalia, deputy chairperson of the planning commission, told HT.