According to the Center for Monitoring Indian Economy (CMIE), India’s natural gas production will increase an astounding 60% by the end of next year. The economic think-tank predicts domestic natural gas output will grow to 52,239 million cubic metres in 2009-2010. The additional natural gas production capacity, plus rebounding oil prices, will likely increase the success of Energtek’s subsidiary in India.
The price of oil has rebounded steadily over the last several months and continues to hold its advances. As the price of crude oil rises, the profitability of alternative energy solutions (such as natural gas) becomes even greater. Natural Gas is a very competitive energy source with today’s oil prices, especially in India where natural gas capabilities are growing rapidly.
“We fully expect our proprietary bulk transportation solutions to provide significant cost reductions to industrial and commercial energy consumers in India, starting this year,” Energtek CEO Lev Zaidenberg stated earlier in a press release. “Producing additional quantities of Natural Gas will expand the number of customers that can benefit from clean and affordable alternative energy. Natural Gas is much cleaner than crude oil, and can be offered at a price significantly cheaper than gasoline, diesel or LPG.”
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