Singhal says gas transition holds immense potential for sustainable future
India needs a comprehensive and coordinated strategy to address the challenges faced by the natural gas sector which has terminals operating at less than 40% of capacity, according to A K Tiwari, Member of the Petroleum and Natural Gas Regulatory Board (PNGRB).
Speaking at a conference on ‘Gas-Based Economy: Shaping a Gas-Powered Future’ in New Delhi on 31 Oct 2023, he informed that LNG terminals were underutilized, some operating at less than 40% of the designed capacity.
He also pointed out the insufficient gas tie-ups, inadequate pipelines and unprepared tributaries.
Tiwari told the conference organizer PHD Chamber of Commerce and Industry (PHDCCI) to form a dedicated group to communicate these vital points to the concerned ministries and government authorities.
Further, the importance of diversifying gas sources was emphasized at the conference by Sandeep Jain, Co-Chair of the Hydrocarbons Committee at PHDCCI and Executive Director (Gas Business) at Indian Oil Corporation Limited.
Addressing the issue of gas consumption in the country, he said 50% of the 46-50 million metric tonnes of annual gas consumption was domestically sourced.
Rajeev Singhal, Chair of the Hydrocarbons Committee at PHDCCI and Executive Director (Business Development E&P) at GAIL (India) Ltd, provided an industry perspective.
He underscored the seven key elements of a gas-based economy, highlighting their positive implications for energy security, environmental sustainability, economic growth, infrastructure development, global collaboration, and challenges as well as their mitigation.
Singhal emphasized that this gas transition holds immense potential for a sustainable and prosperous future.
There is a need for proper utilization of gas-based power plants with the right policy and regulatory framework, added Rajesh K Mediratta, Managing Director & CEO of Indian Gas Exchange Ltd.
He also advocated for a mandate to convert public transportation to cleaner fuels, thereby driving demand for City Gas Distribution (CGD). Fiinews.com
