The Ministry of Petroleum and Natural Gas, Department of Hydrocarbons, has published an Extraordinary Gazette notification on Gas Hydrate Policy, 2022, amending the Gas Hydrate Policy, 2016. The notification provides for the amendment of the existing policy to include provisions for the exploration and exploitation of gas hydrates in India. The notification also provides for the establishment of a Gas Hydrate Authority to regulate and monitor the exploration and exploitation of gas hydrates in India. The notification further provides for the constitution of a Gas Hydrate Board to advise the Government on matters related to the exploration and exploitation of gas hydrates in India. The notification also provides for the creation of a Gas Hydrate Fund to finance the exploration and exploitation of gas hydrates in India. The notification also provides for the sharing of revenue derived from the exploration and exploitation of gas hydrates in India between the Central Government and the State Governments. The notification also provides for the imposition of penalties and fines for violation of the provisions of the Gas Hydrate Policy, 2022.
