Govt. confident of reducing oil & gas imports by 10% by 2022
The government is confident of reducing the county’s oil and gas imports by 10% by the year 2022, Petroleum and Gas Minister Dharmendra Pradhan said on Monday, citing key reasons such as shifting India’s focus towards domestic production of natural gas and oil. “Gas is the future fuel and India is taking steps to boost exploration and production. The government is working with public sector oil companies to bring in Start-Up Fund for oil & gas industry which would further boost the innovative ideas in the sector,” Pradhan said at Natural Gas Conclave event on Tuesday. The Oil Minister said that the government has already taken scores of initiatives in the sector to feed the energy-starved country. Once these programmes are successfully implemented, they will unlock a large quantity of hydrocarbons in the domestic market. In the past, Prime Minister Narendra Modi had expressed his commitment to decrease the carbon footprint by 30-35%, to be achieved by 2030. Modi had underscored the need to promote clean fuel such as natural gas for domestic consumption, and had urged all the stakeholders to participate in this ambitious mission. Pradhan, on Tuesday, called upon Petroleum and Natural Gas Regulatory Board (PNGRB) to play a paramount role in the expansion programme of gas network. “The government is committed to the balanced growth and for this purpose new pipelines are being laid in Eastern India which will boost the availability of gas in the under-developed parts of the country,” he said. K.D. Tripathi, Secretary (Petroleum & Natural Gas), who was also present on the occasion, said India’s economy is a growth story, and it presents ample opportunities for everyone to be a significant contributor in it. Tripathi urged all the stakeholders to play their part and ensure sustainable gas at affordable rates.
March 23, 2016 | 03:45pm IST
to success.