Investment of over $2 bn by Great Eastern rejected, despite Cabinet giving nod to uniform licensing. :
Lack of clarity on shale gas, despite the Cabinet clearing the uniform licensing policy for oil and gas exploration, seems to be hurting investors in the country. A shale gas exploration plan, with Investment to the tune of $2 billion over a period of 10 years by London Stock Exchange-listed Great Eastern Energy Corporation (GEECL), has now been rejected by the ministry of environment and forests (MoEF).