US Signs Shale Gas MoU with India

The US has signed a memorandum of understanding (MoU) with India for cooperation in sourcing shale gas in the country.

“The MoU will help India identify shale gas resource in the country and frame policy regime for exploitation of the resource,” Union Minister of Petroleum and Natural Gas Murli Deora told The Times of India.

The signing took place during President Barack Obama’s visit to India.

The oil ministry plans to include shale gas acreages in its auction of exploration blocks in 2011.

The US will help India with the transfer of technology and know-how for the unconventional energy, and the US Geological Survey will carry out studies on shale gas resources and provide a report.

The US is considered a pioneer in the area and has the only commercially viable market for the fuel.