India plans USD 60bn investment in gas infrastructure

11 January 2021

Petroleum Minister Dharmendra Pradhan on recently said the government has planned a USD 60bn 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% of the country's total energy mix. 

Speaking at Assocham Foundation Day Week 2020, the minister said, "On the investments front, we have envisaged a spend of USD 60bn in creating gas infrastructure till 2024, including for pipelines, LNG terminals, and CGD (city gas distribution) networks."

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.

Coverage of CGD projects is being expanded to 232 geographical areas spread over 400 districts, with the potential to cover about 53% of the country's geography and 70% of the population, he added.

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. The foundation stone was recently laid for the nation's first 50 LNG fuel stations."

This year, India has achieved the milestone of filling all the strategic petroleum reserves with a total capacity of 5.33 MT 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.