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Govt aiming for 10% reduction in India’s crude oil import by next year: PNGRB Secretary

Under the ‘energy security’ programme, the government has set a goal of reducing the import of crude oil by 10 percent by 2022, said PNGRB Secretary Vandana Sharma
Govt aiming for 10% reduction in India’s crude oil import by next year: PNGRB Secretary
Govt aiming for 10% reduction in India’s crude oil import by next year: PNGRB Secretary
  • Sharma said that the PNGRB is focussed on increasing the share of natural gas in the energy basket of India
  • To reduce India’s crude oil imports, the govt is following a twin-pronged strategy under which it is looking to increase domestic production and increase the share of gas

New Delhi: Under the ‘energy security’ programme, the government has set a goal of reducing the import of crude oil by 10 percent by 2022, said Petroleum and Natural Gas Regulatory Board (PNGRB) Secretary Vandana Sharma on Friday. Speaking at an investors’ meet organised by the regulatory watchdog on the 11th City Gas Distribution (CGD) bidding round in Jammu, Sharma said that the PNGRB is focussed on increasing the share of natural gas in the energy basket of India and sought participation from investors in the 11th round of CGD bidding.

PNGRB is the nodal agency for facilitating economic activities in natural gas distribution sector and is responsible for promoting competitive markets, overseeing creation of infrastructure and increasing the share of natural gas in the country’s energy mix from the current 6 percent to 15 percent by 2030. Earlier, PNGRB had successfully concluded the 9th and 10th CGD bidding rounds for selection of authorised entities for development of CGD networks in their Geographical Areas (GAs). The 9th and 10th bidding rounds for 136 GAs covering 298 districts in 23 states/ UTs was a huge success, attracting interest from investors in all offered GAs.

11th CGD round will cover 5 district in J&K

In the 11th CGD bidding round, 1 GA covering five districts from Jammu & Kashmir — Jammu, Udhampur, Samba, Reasi and Kathua is being offered by PNGRB. After authorisations under 11th round, 27 percent of the state’s population would be covered under CGD network.
 
The investor’s meet is part of a series of outreach programmes planned in different parts of India by PNGRB for interacting with investors. The event witnessed participation from senior government officials, bankers, consumers and investors from the oil and gas sector. Ranjan Prakash Thakur, Principle Secretary, Industries and Commerce Government of Jammu & Kashmir, was the chief guest for the event. 

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In the presentation on the 11th CGD bidding round, PNGRB highlighted the opportunities in the CGD sector in Jammu and Kashmir, upcoming gas infrastructure in the state along with key policy enablers that will provide boost to the domestic gas market.

Crude oil imports

In order to reduce India’s crude oil imports, the government is following a twin-pronged strategy under which it is looking to increase domestic production of both oil and gas and to increase the share of gas in the country’s energy mix from 6 percent at present to 15 percent by 2030. The Centre is expecting to introduce liquefied natural gas (LNG) as long-haul transport fuel, and gas as feedstock for refineries, power plants and other industries. 

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