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Commodity Profile – Natural Gas
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Natural gas has emerged as the most preferred fuel due to its inherent environmentally
benign nature, greater efficiency and cost effectiveness. It is a colorless, odorless,
environment-friendly energy source, which is cleanest of all the fuels. Natural
gas is a highly flammable hydrocarbon gas, mainly consisting of methane (CH4). It
also includes other gases such as oxygen, hydrogen, nitrogen, ethane, ethylene and
helium.
Natural gas remains a key energy source for industrial sector uses and electricity
generation. The industrial sector currently consumes more natural gas than any other
end-use sector. The natural gas sector has gained importance, particularly over
the last decade, and is being termed as the Fuel of the 21st Century.
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Economic importance
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Natural gas is mainly used in the industrial, residential, commercial, transportation
and electric power sectors.
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It has a multitude of industrial uses, including providing the base ingredients
for such varied products as plastic, fertilizer, anti-freeze, and fabrics.
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It can be used for cooking, washing and drying, water warming, heating and air conditioning.
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Natural gas can be used as a motor vehicle fuel in two ways- as compressed natural
gas (CNG), which is the most common form, and as liquefied natural gas (LNG).
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Other uses of Natural Gas include cooling (space conditioning and refrigeration),
cooking or heating.
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Global Scenario
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Russia has the largest reserves of natural gas in the world followed by Iran. However,
Russia, the United States and Canada are the three largest natural gas producing
countries in the world. Iran occupies the fourth position in the world’s natural
gas production.
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Domestic Scenario
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India accounts for 1% share in the world’s natural gas output. Cumulative
domestic natural gas production during April-February 2008-09 was 30,019 million
cubic meters. In 2008-09, natural gas output is expected to grow by a meager 1.3
per cent to 32,849 mcm. In 2009-10, India’s natural gas production is expected
to grow by a robust 60.0% to 52,239 million cubic meters (mcm). This is largely
because of commencement of natural gas production from Reliance Industries’
(RIL) Krishna Godavari basin.
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