AHMEDABAD: Its India?s biggest gas find in 30 years. And it could well turn out to be the world?s largest find in recent times. State-owned Gujarat State Petroleum Corporation (GSPC) has struck gas in the Krishna Godavari basin, off Andhra Pradesh coast in the Bay of Bengal. The reserves are estimated at 20 trillion cubic feet (tcf). In 1976, ONGC found gas in the Vasai offshore fields (in the Arabian Sea) with an estimated reserve of 24-27 tcf. GSPC?s gas find is valued at almost $50 billion. It should be possible to pump out 40-50m cubic meters of gas every day. Simply put, gas production from this find alone could end up firing 10,000 mw of power. This is enough to meet the peak power requirements of Delhi and Mumbai. GSPC?s find, christened Deendayal, is expected to spew commercial gas from end ?07. It dwarfs the recent gas discoveries in the region by Reliance and ONGC. While Reliance was the first to strike gas off the Andhra coast in November ?02, estimated at 14 tcf, ONGC announced its find in March this year, with estimated reserves of 4 tcf. Avinash Chandra, former director general of hydrocarbons, told ET, ?It is a giant-sized discovery by international standards. The American Bureau of Standards calls a field of 500m barrels or 2 tcf gas reserve as giant. The Deendayal field would be 10 times as big.? At present, India produces 80m cubic meters of gas per day. Of this, 65m cubic metres is available for commercial use. GSPC?s find will increase India?s total gas production to 100m cubic metres per day. In other words, the Deendayal field alone will account for a fifth of India?s total gas production. Add to this the estimated gas production by Reliance, and India could more than double its output five years from now. Experts say while Reliance?s gas discovery is less than that of GSPC, at 14 tcf, the actual yield out of its fields should be high at 40m cubic meters per day as they are from ?younger sediments?. Gujarat chief minister Narendra Modi, quoting experts, said that ?based on advanced interpretation of 3D seismic data, wireline log data and test results in the KG-8 well, the initial gas in place on this structure would be of the order of 20 tcf.? Modi made the announcement at a press conference in Ahmedabad. GSPC executives told ET they expected to recover 80-90 percent of the gas in place, and bring the gas onshore by the end of ?07. Reacting to the news, the director general of hydrocarbons, VK Sibal, said, ?The finds are promising, but the actual estimate will depend on test results.?