
[ad_1]
NEW DELHI: With increased volatility in the gas market due to the energy transition to cleaner fuels, as well as the conflict between Ukraine and Russia, stakeholders in the Indian oil and gas sector have called for the improvement of gas infrastructure with a particular focus on the construction of domestic and transnational gas pipeline connectivity. .
Petroleum and Natural Gas Minister Hardeep Singh Puri, while addressing the inaugural session of ET EnergyWorld’s annual gas conclave on Monday, pointed out that in order to support a gas-based economy, the length of India’s pipeline infrastructure has been increased to 22,000 km currently and the target is to reach pipeline network of 35,000 km in the next five to six years.
The government aims to increase the share of gas in India’s energy mix to 15% by 2030 from the existing 6.3%. Natural gas is considered a cleaner alternative to fossil fuels such as coal and a transition fuel that should be adopted before full reliance on clean renewable energy sources.
“India is committed to continuously improving the policy and regulatory environment to support development and make cleaner and more sustainable fuels available to the general public,” Puri said.
The government is taking steps to create a free gas market regime and develop the country as a gas trading hub, he added, noting that the push for a gas-based economy is expected to lead to an investment of $60 billion in India in the sector.
Ashutosh Karnatak, Member, Petroleum and Natural Gas, Electricity Appellate Tribunal and former Chairman and Managing Director, GAIL India, pointed out that India should procure gas through pipelines from neighboring countries like Myanmar and Bangladesh.
“Gas is abundantly available, what we have to do is we have to get it either in the form of LNG, either through transportation pipelines or increase domestic production,” Karnatak said.
Karnataka’s views were echoed by Anil Razdan, former secretary in the Ministry of Power and former additional secretary in the Ministry of Petroleum and Natural Gas. He stated that China entered Myanmar’s gas market much earlier and that India must build transnational gas pipelines sooner rather than later.
Vartika Shukla, Chairman and Managing Director, Engineers India Ltd, said there is a strategic need for India to invest in gas projects abroad to strengthen the country’s energy security.
[ad_2]
Source link