Govt plans $60-bn funding in fuel infrastructure: Pradhan


New Delhi, December 17

Petroleum Minister Dharmendra Pradhan on Thursday said the government has planned a $60-billion investment for creating gas infrastructure in the country till 2024, and gas’ share in the energy mix is expected to rise to 15% by 2030. Currently, gas accounts for 6% in the country’s total energy mix.

Speaking at Assocham Foundation Day Week 2020, the minister said, “On the investments front, we have envisaged spend of $60 billion in creating gas infrastructure till 2024, including for pipelines, LNG terminals and CGD (city gas distribution) networks.” He further said, “We are ushering a gas-based economy by increasing the share of natural gas in India’s primary energy mix from 6.2% to 15% by year 2030.” India’s first automated national-level gas trading platform was launched in June this year to promote and sustain an efficient and robust gas market and foster gas trading in the country.

Ushering a gas-based economy

We are ushering a gas-based economy by increasing the share of natural gas in India’s primary energy mix from 6.2% to 15% by 2030…we have envisaged spend of $60 billion in creating gas infrastructure till 2024. —Dharmendra Pradhan, Petroleum Minister

He also said, “We are adopting clean mobility solutions with greater use of LNG (liquefied natural gas) as a transportation fuel, including long-haul trucking. We plan to have 1,000 LNG fuel stations across the country. Last month, foundation stone was laid for the nation’s first 50 LNG fuel stations.” This year, India has achieved the milestone of completely filling all the strategic petroleum reserves with a total capacity of 5.33 MT (million tonnes) constructed at Visakhapatnam, Mangaluru and Padur.

“We have initiated the process of establishing another 6.5 MT commercial-cum-strategic petroleum storage facilities at two locations, Chandikol and Padur, under the public-private partnership model,” he added. About the pandemic, he noted that the Covid pandemic continues to inhibit conduct of normal activity. — PTI



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