KG Basin Scam – Gujarat State Government & Narendra Modi Are Unaware ? Or At The Center Of It?
Didn’t hear about it before? Well to fake the extraction of a natural gas and later jus vanishing it like air really needs a master talent. In the year 2005, the chief minister of the state of Gujarat ( Narendra Modi) stated that the GSPC (Gujarat state petroleum cooperation) discovered the reserves of natural gas in the Krishna-Godavari river basin . According to the information, it says that the discovery stated that the natural gas was 20, crore trillion cubic feet beneath which would be a worth of 2 lakh 20 thousand crore INR after this bold claim the whole of India felt they will be independent for natural gas and will need not need any imports.
But till 2016, it’s almost of 11 years from the day of claim and there has been no extraction of any natural gas and nearly the GSPC spend 20 thousand crores to extract the nonexistent gas. The extraction of oil and gas is a very expensive procedure and in case if no prints are found either they stop the exploration or focus on minimizing the cost of the exploration but none of this was done in the KG BASIN so what is the reason?
GSPC’s technical partner was a two-person company called GeoGlobal Resources the land that is known more for Gary Sobers and now Carlos Brathwaite. GeoGlobal is situated on the land that is widely known as a tax area than an oil exploration haven. The time between the announcement of the discovery of the gas which was done in the year 2005 and the time of producing it the GSPC had taken a debt of Rs. 4800 crore in loans from public sector banks and many financial institutions. But I am sure that the report of the whole incident didn’t cost rs 4800 crores ! so where did the money vanish? Where was it utilized? Still a mystery… probably not really mentioned in the report
And so this is the kg scam which was not for the moto of extraction of oil or gas but money.