LNG has emerged as a promising fuel, says Jain
The Executive Director, IOCL, Sandeep Jain has emphasized geographic development and infrastructure expansion for LNG, saying that storage facility is crucial for supply reliability.
With Indian Oil Corporation Ltd (IOCL) leading proactive investments, he said the government’s balanced approach, particularly in the City Gas Distribution (CGD) Sector, has been demonstrated.
Speaking at the PHDCCI organized Bharat Gas Summit on 28 March 2024 in New Delhi, he underscored the urgent need for LNG infrastructure development, pointing out that projections for CGD growth in the southern and eastern regions underscored the importance of accessibility, availability, and affordability.
“LNG has emerged as a promising fuel, aligning with sustainability targets and offering significant investment opportunities,” said Jain, also the Co-Chair, Hydrocarbon Committee, PHDCCI.
He emphasizing the sector’s growth potential, infrastructure development, and regional expansion.
Kapil Kumar Jain, Executive Director, GAIL (India) Ltd, in his address, shared a report providing a retrospective analysis of India’s energy landscape, highlighting its historical position as the fastest-growing and the third-largest primary energy consumer globally.
“Challenges such as high LNG prices were met with resilient domestic production, supported by key players like GAIL.”
He elaborated on shifts towards CDG and increased use of imported gas in sectors like fertilizers. Projections indicate rising gas demand by 2030, with supply expected to meet these demands, highlighting the importance of collaboration and strategic planning.
He pointed that the report underscores the significance of past initiatives in shaping India’s energy trajectory and emphasizes the need for continued innovation and adaptability to meet future challenges.
Rupesh K Pandey, Senior Secretary, PHDCCI, shared his perspective on encouraging wider LNG use, fostering innovation, and aligning industry practices with government policies.
The Summit covered in-depth discussion on the Navigating Uncertainties in Global Gas Market; City Gas Distribution and Cross-Country Pipeline and LNG as a Transport Fuel.
The Co- Partner of this Summit was Indian Oil Corporation Limited and was supported by PHDCCI annual sponsors, DLF Ltd; Jindal Steel & Power; KLJ Group; Multani Pharmaceuticals Ltd; Marble City; MMG Group; Radico Khaitan Ltd; Uflex Ltd; Vestige; Eazy ERP Technologies; JK Tyre & Industries Ltd; Sagar Group of Industries; Superior Industries Limited; Samsung India Electronics; Oswal Greentech; Apeejay Stya Group; Blossom Kochhar Beauty Products Pvt Ltd; DCM Shriram; R E Rogers; Trident Group; Ajit Industries Pvt Ltd; Bhagwati Plastic and Pipes Industries; Central Coalfields Ltd; DD Pharmaceutical Ltd.; Hindware Sanitary; Jindal Steel; Modern Automobiles; P S BEDI & Co. fiinews.com
