The government is aiming to increase the share of natural gas in its energy basket by 2030 to 6.3 percent by 2030.
New Delhi (Natural Energy News): India has invested $ 66 billion on a large scale in the construction of gas infrastructure, as the government insists for greater use of cleaner fuels aimed at cutting carbon emissions, Oil Minister Dharmendra Pradhan said on Wednesday.
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The government is aiming to increase the share of natural gas in its energy basket by 2030 to 6.3 percent by 2030.
This would indicate increasing gas consumption from 160–170 million standard cubic meters per day currently.
To accomplish this, liquefied natural gas (LNG) import capacity is being increased, new pipelines have been laid for fuel transportation, and the city's gas infrastructure has been expanded to allow users to take fuel, KPMG India Said here in the annual energy conclave ENRich.
The estimated investment of $ 66 billion is made in developing the gas infrastructure, including pipelines, gas distribution in the city and LNG regasification terminals, he said, adding that the existing network of 16800 kilometres to connect 14,700 kilometres of gas pipelines Is being added to. A national gas grid.
However, he did not provide a breakup or time for investment.
Furthering India's energy strategy, he said that in addition to achieving the renewable energy target of 450 GW (GW) by 2030, India focuses on developing a gas-based economy, cleaner use of fossil fuels, in an integrated way Will concentrate. Transfer to emerging fuels such as domestic fuel and hydrogen to drive biofuels.
LNG import terminals and capacity additions are planned on both the east and west coast. Also, the city gas network to sell automobiles and piped natural gas to CNG in homes and kitchens has been extended to 40,000 districts.
Apart from CNG, the government is also promoting the use of LNG as a fuel on long-distance trucks and buses.
"Recently, we have laid the foundation stone for the first 50 LNG fuel stations on the Golden Quadrilateral and major national highways. Our goal is to establish 1000 LNG stations within 3 years, adding about 20-25 mmscmd of new gas. There is a possibility. Demand by 2035, "he said.
In addition, the National Biofuels Policy (NBP) is aiming to blend 20 percent ethanol and 5 percent bio-diesel into petrol by 2030.
"Biofuels are not only science but also a mantra that will provide new energy not only to India but to the entire world. It has the power to strike a balance between our environment and economic development," he said.
In August 2018, India joined the elite group of nations by successfully piloting a biofuel flight. "We are eager to expand the use of biofuels in the aviation sector to meet the new ICAO standards," he said.
Pradhan said that the government is emphasizing on generating gas from municipal and agricultural waste and 5,000 compressed biogas plants are planned.
He added, "There is also an increased push to adopt hydrogen fuel mix. Last month, we launched a Hydrogen-enriched Natural Gas (HCNG) plant and dispensing station in Delhi and commissioned the first set of buses with HCNG."
Pradhan said that historically, global economic growth and the need for energy resources have been synchronized.
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However, with increasing awareness of environmental hazards, such as global warming and climate change, there is a change in the way we envision this relationship.
He said that global GDP is projected to double by 2040 but global energy demand is projected to increase by only 30 percent, adding that the situation in developed and developing countries is not the same.
"As economic growth takes hold, the energy needs of countries like India will be higher and must be adequately met while being sensitive to environmental and climate concerns."
India uses only 6 percent of the world's primary energy and the per capita consumption of energy is still one-third of the global average. "This, however, is changing rapidly. India's development triggers the rapid expansion of state energy consumption and the need for stronger energy security."
According to various global agencies, the world's total primary energy demand will increase by less than 1 percent per year by 2040 and this growth will be mainly supported by India and other Asian countries.
India is the third-largest energy consumer after the US and China. Its energy demand rose to 882 million tonnes of oil equivalent (Mtoe) in 2017.
According to the BP Energy Outlook 2020, India's energy demand will grow at a rate of about 3 percent per year by 2040. "Our per capita energy consumption will be half of the world's average by 2040."
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India has committed to reducing the emission intensity of its GDP by 33–35 per cent from 2005 levels.
"Our energy agenda is inclusive, market-based and climate-sensitive. We have adopted many avenues for the energy transition," he said.
India is targeting 175 GW of renewable energy capacity by 2022 and 450 GW by 2030.
Solar installed capacity in India has increased 13 times from 2.63 GW in March 2014 to 34.81 GW in April 2020.
Pradhan said that India is an attractive investment destination for the energy sector as several policy reforms have enhanced ease of doing business. "A testament to an estimated investment of $ 143 billion in the Indian oil and gas sector."
"We are keen to partner with global companies and investors to further strengthen the energy infrastructure in the country," he said.
Saudi Aramco and UAE's ADNOC are participating in a 60 million tonne a year integrated refinery petrochemical project in Maharashtra.
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"India also recognizes the importance of global cooperation in the energy sector," he said. "India and Russia are targeting bilateral trade up to $ 30 billion over the next four years in LNG, shipping and beyond."
Similarly, under the ambitious Strategic Energy Partnership, India and the US energy trade has been growing rapidly in the last few years.
.JPG)
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