India, July 23 -- State-run ONGC is planning to create India's first strategic natural gas reserve near its gas-producing assets in western India, two people aware of the matter said. The development comes after the Centre's plan to store natural gas in underground salt caverns failed to take off because of high capital expenditure and technical complexities. A strategic natural gas reserve can cushion the impact of crises such as the West Asia war, which has disrupted global energy supplies, exposing India's vulnerability as the country imports about 55% of its natural gas requirements. "The consideration right now is to do a feasibility survey and develop a reserve or storage in a depleted gas well, as that would be ready to handle pressu...