Lack of uniformity in clearance of proposals hurting shale explorers

Investment of over $2 bn by Great Eastern rejected, despite Cabinet giving nod to uniform licensing

Lack of clarity on shale gas, despite the Cabinet clearing the uniform licensing policy for oil and gas exploration, seems to be hurting investors in the country.

A shale gas exploration plan, with Investment to the tune of $2 billion over a period of 10 years by London Stock Exchange-listed Great Eastern Energy Corporation (GEECL), has now been rejected by the ministry of environment and forests (MoEF).
 

The company is expected to have estimated gas reserves of around 9.25 trillion cubic feet (tcf) – including 6.63 tcf of shale and 2.62 tcf of coal bed methane (CBM) – in its