Gas Infrastructure is set see a massive $66 billion investment in expanding Indian gas pipeline infrastructure, the move is aimed at increasing share of LNG (Liquified Natural Gas) from energy basket from 6.3 per cent to 15 per cent by year 2030.
Speaking at the KPMG annual energy conclave, Minister of Petroleum and Natural Gas, said, the $66 billion investment will include pipelines, city gas distribution and LNG regasification terminals, which will add 14,700 km of gas pipeline in addition to existing 16,800 Km to constitute a national grid.
To substantiate the demand LNG import capacity will be raised, entailing gas consumption rising manifolds from current 160-170 standard million cubic metrics per day.
He said this move will push greater use of cleaner fuel, cutting down carbon emission.
Further expanding on India’s strategy moving forward huge investments, he said, as we gear up to achieve 450 gigawatts of renewable energy by 2030, we will focus on developing a gas-based economy, based on consumption of cleaner fuel, greater reliance on domestic fuel, bio and hydrogen fuel, in a very integrated manner as we proceed forward.
He added, recently government has laid foundation to 50 LNG fuelling stations across country along the golden quadrilateral and other major national highways, and goal is to set up 1000 LNG stations across country in the next 3 years, which will add another 20-25 metric million standard cubic meters per day of additional demand (mmscmd) by 2035.
We are keen on using bio-fuels in aviation and meet ICAO standards, India amongst the few countries that has successfully run flights in bio-fuels, and government is leaned towards generating aviation fuel using Agri and bio waste, and 5,000 compressed bio gas plants are planned.
National Biofuel policy is aiming at blending 20 per cent of ethanol and 5 per cent bio fuel in petrol by 2030, emphasizing on importance of bio-fuel in near future he said, Biofuel is not mere science but mantra, which will provide energy to India and entire world, and balance between environment and economic development.
Historically global economic growth and need for energy resources has been synchronous, and increased awareness of environmental threat and there is need for a paradigm shift in this relationship.
As global GDP is expected to increase by 2030, energy demand is expected to increase by mere 30 per cent, but as Indian economy grows, energy demand is expected to grow much higher, and these demands have to be met while being responsive to environmental concerns.
Adding on recent developments in hydrogen fuel he said, “There is also an increased push to adopt hydrogen fuel mix. Last month, we launched the Hydrogen enriched- Compressed Natural Gas (HCNG) plant and dispensing station in Delhi and also rolled out the first set of buses with HCNG,”.
India is very keen on partnering with global investors and global conglomerates to strengthen energy infrastructure in India, and India recognises importance of global collaboration on energy sector, citing example, he said, India and Russia are targeting to triple bi-lateral trade to $ 30 billion in next four years, in areas of shipping, LNG, etc similarly under strategic partnership India and US energy trade has witnessed exponential growth in the past few years.