India to Offer First Shale Gas Blocks by 2014

India is likely to offer its first shale gas blocks for development in two year’s time, media reports said.

The country is assessing shale gas resources assessment and needs to devise a regulatory framework for developing these blocks, which may take one or two years.

Estimates suggest India may have 63 trillion cubic feet of recoverable shale resources, enough to meet its consumption for 33 years.