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Great Eastern Energy Commences CNG sales in West Bengal

Wednesday, 25 July 2007

India

Great Eastern, a company involved in the exploration, development and production of coal bed methane (CBM) in India, has commenced initial industrial sales of CBM as well as sales of Compressed Natural Gas "CNG" for vehicles in and around Asansol, West Bengal, India.

The delivered price being obtained by GEECL is between $13 to $15/mcf.

The occasion was inaugurated by Mr.Nirupem Sen, Hon'ble Minister of Commerce and Industry, West Bengal, who said "The commencement of sales of CBM will change the face of industrialisation and reduce pollution in the state of West Bengal."

The Prime Minister of India, Dr. Manmohan Singh, commented, "I am pleased to learn that Great Eastern Energy Corporation limited is making the first sale of its gas at Asansol. It is note worthy that this will be the first Coal Bed Methane sale in India. The commercial exploitation of Coal bed Methane will certainly help in meeting India's growing energy needs."

Great Eastern holds a licence to explore for CBM in the 210 sq km block in the Raniganj Coalfields, West Bengal. GEECL has already drilled 23 production wells and proposes to drill a further 80 production wells in a phased manner over a period of 3 years.

Source: NGV Global