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PM Narendra Modi leads India’s drive to fulfil global energy demand

Prime Minister Narendra Modi has envisioned a clear roadmap for India's energy plan with five key enablers to achieve this goal.

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File photo: Prime Minister Narendra Modi
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Global population expanding everyday and with increasing prosperity, the need for energy consumption is growing faster than ever. A surge in demand has been registered from almost all natural resources, be it oil, natural gas, coal, bioenergy or other renewables.

Increasing standards of living for many people in developing countries will place even more demand on energy resources. Moreover, advances in technology are increasing the availability of products which once again require energy.

At such a time, India is being looked upon as an attractive investment destination in regards to the energy sector and as a key driver of global collaboration on the strengthening of energy infrastructure.

Prime Minister’s roadmap for Energy Sector

Prime Minister Narendra Modi has envisioned a clear roadmap for India's energy justice, which rests on five key enablers – energy availability, accessibility to all, affordability to the poorest of the poor, energy efficiency, sustainability and security.

India's energy plan is inclusive, market-based, and climate-sensitive. PM Modi even mentioned seven key drivers of India's energy strategy at the India Energy Forum last month. Apart from achieving a renewable energy target of 450 gigawatts by 2030, India will focus on…

* Developing a gas-based economy

* Cleaner use of fossil fuels

* Greater reliance on domestic sources to drive biofuels

* Increasing the contribution of electricity

* Moving into emerging fuels, like hydrogen

* Promoting digital innovation across all energy systems

The shift towards a Gas-Based economy

Moving towards a gas-based economy is a vital low carbon pathway enabling the energy transition. Over 16,800-km long gas pipeline network has already been laid, while additional 14,700-km gas pipelines are under different construction stages.

The largest-ever roll-out of city gas distribution networks across India has been undertaken to enable inclusive growth.

Plans have been chalked out to provide CNG and PNG infrastructure in most parts of the country. The CNG and PNG infrastructure will be provided in 407 districts. PNG connection for households has increased from 25 lakh in 2014 to 63 lakh now and is being further provided to 40 million, and similarly, CNG connection has increased from 938 in 2014 to 2350 now.

We are also heading towards having 10,000 CNG stations. Expansion of these facilities will ensure clean energy for 70 percent of the population. Steps are also being taken to make natural gas easily available at doorsteps for users through mobile dispensing.

The government also recently laid the foundation stone for the first 50 LNG fuelling stations across the golden quadrilateral and major National Highways. It aims to set up 1000 such LNG stations within 3 years.

National Biofuel Policy of 2018

A target of 20 percent ethanol blending in petrol and 5 percent of bio-diesel by 2030 has been set under the policy. 12 2G ethanol bio-refineries in 11 States are being set up with an overall capacity of 1100 kilolitre per day. The government is also working towards the conversion of used cooking oil to biodiesel in select cities.

Reducing India's Crude Oil Imports

The government has planned a road map for reducing India's crude oil imports by 10 percent by 2022. Enhancing indigenous oil and gas production is being looked upon as the utmost priority. Oil and gas companies in India, including oil PSUs, are investing in developing renewable energy projects by focusing more on green energy investments such as renewables, biofuels, and hydrogen.

India - Driver of GLOBAL energy demand

"I can assure you India is full of energy. India's energy future is bright and secure... India's energy will energize the world," PM Modi said in October as he pitched for global oil and gas suppliers to adopt responsible pricing and move towards transparent and flexible markets. This will make India drive energy consumption in the world.

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