Our regasification capacity of existing 42 MMTPA will be expanded to 61 MMTPA by year 2022, said Pradhan
The government has envisaged a spending of $60 billion in creating gas infrastructure till 2024, said the minister
New Delhi: While asserting that India is making attempts to usher a gas-based economy by increasing the share of natural gas in India’s primary energy mix from 6.2 percent to 15 percent by 2030, Minister for Petroleum and Natural Gas Dharmendra Pradhan said that the country is set to expand the natural gas grid to 34,500 Km under One Nation One Gas Grid. The grid is currently 17,500-km-long. “Our regasification capacity of existing 42 MMTPA will be expanded to 61 MMTPA by year 2022. Natural gas marketing reforms have been announced to prescribe standard procedure to discover market price across various contractual regimes through a transparent and competitive manner. Also, we have rationalised tariff to make natural gas affordable in every part of the country,” said Pradhan.
While addressing the ASSOCHAM Foundation Week 2020 on Thursday, the minister also talked about launch of India’s first automated national-level gas trading platform and expansion of coverage of City Gas Distribution projects to cover 232 Geographical Areas spread over 400 districts, with a potential to cover about 53 percent of country’s geography and 70 percent of the population.
India to spend $60 billion on gas infrastructure till 2024: Pradhan
The minister said that India is adopting clean mobility solutions, with greater use of LNG as a transportation fuel, including long-haul trucking. On the investments front, he said that the government has envisaged a spending of $60 billion in creating gas infrastructure till 2024, including for pipelines, LNG terminals and CGD networks.
Pradhan said that the government has embarked on a massive programme on alternative fuels for enhancing India’s energy sustainability. “We are tapping into huge biomass potential through National Biofuels Policy. India’s Oil Marketing Companies (OMCs) are ahead of the curve having already committed to set up 12 2G bio-refineries and ethanol-blended petrol. “We are boosting rural economy by waste-to-wealth generation, under the Sustainable Alternative Towards Affordable Transportation (SATAT) initiatives. We are setting up 5,000 CBG plants by 2023-24 with production target of 15 MMT with an investment of about US $20 billion. Our Government is also giving a push to adopt hydrogen fuel mix. Major oil and gas companies have taken a lead by promoting International Solar Alliance in addition to installing renewable energy capacities through independent efforts,” said Pradhan.
Pradhan invited India Inc to join Atmanirbhar Bharat Urja initiatives
Inviting India Inc to join the Atmanirbhar Bharat Urja initiatives, Pradhan said that India needs to ensure energy justice and end energy poverty in the country. “This means more energy to improve the lives of Indians with a smaller carbon foot-print. Our energy sector will be growth-centric, industry-friendly and environment conscious. The energy sector will continue to play a pivotal role in the national development, and in realisation of the $5 trillion economy,” said the minister.
Pradhan said that at the core of the government’s efforts is to achieve a growth path that is sustainable, keeping in view our national priorities and resources.
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