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India calls for Asian Gas grid connecting India, China, Japan to Gas producing areas of Asia – wasting billions on Gas pipes instead of research and implementation of alternative fuels
India’s Petroleum Ministry may be creating the biggest mess for India and Asia. Petroleum Minister Mani Shankar Aiyar today mooted construction of a cross-country natural gas pipeline network, connecting gas-rich nations in the Gulf and Siberia to consumption centers in India, China and Japan.
Addressing the 3rd Asian Gas Buyers'' Summit, he said, "We need to link all of Asia with network of pipelines, flowing gas in all directions."
According to some energy experts and think tanks, it is big gamble by India. There is only 50% chance that India will be able to get the required gas from these sources. Even if the country is able to receive the same, prices will be astronomical and Al-Queda, Chechens, Pakistan sponsored terrorists will have a great target to hit to totally disrupt the Gas supplies.
Instead, India should have taken a lead role in alternative fuels development and implementation like methanol, hydrogen, coal, nuclear and wind.
India, China and Japan all may suffer recession and hyper inflation due to cost of energy from areas influenced by the Islamic Militants.
"We need to shed the confrontationist approach and create a pan-Asian forum on the lines of the Organisation of African Unity and the European Union and leverage the power of offshore and onshore gas for the benefit of our continent, for which India can dip into its vast reserves of foreign exchange for investment in pipelines," he said.
We can only hope India does not waste Forex Reserves since after a few years things can and will change!
BIZ/FINANCE ARTICLES
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