Energy Security

Iraq crisis: Lessons for India

Given India’s vulnerability to a rise in global crude oil prices as a result of its 75-80 per cent of its crude import dependency, the Iraq crisis could widen its current account deficit, while putting pressure on exchange rate, impeding government’s fiscal consolidation goal and putting off any nudge on interest rates by the Reserve Bank of India.

Will Turkey be the new hub for gas?

Turkey’s natural gas reserves are 218 bcf and its production is roughly 27 bcf. It relies heavily on imports to meet its domestic demand. Additionally, Turkey positions itself as a gas transit hub – importing from Russia, Azerbaijan, Turkmenistan and Iran and re-exporting some of it to Europe.

India’s Growing Energy Woes

The power blackouts on 30 July 2012, first in north India and again in north, north-east and eastern India, which plunged seven northern Indian states into darkness for several hours, disrupting normal life, underline the critical state of the country's energy security. Apart from the discomfort and inconvenience to residents, several essential services such as water supply, city transport systems (including the metro and national railways), mining, health and banking and financial sectors, came to a standstill for hours.