India needs $150bn/yr energy investment
India is to set up a gas trading hub(s)/exchange(s) for trading natural gas and supply through a market mechanism, Minister of Petroleum & Natural Gas, Dharmendra Pradhan in a written reply to the Lok Sabha on 31 Dec 2018.
But a timeframe for commencing trading cannot be indicated at this stage in view of the administrative, legal, operational issues involved.
India needs to make a hefty US$150 billion capital investment in energy sector on an annual basis until 2040, according to National Energy Policy of NITI Aayog.
To date, the Government has taken a decision to provide a capital grant of Rs.5,176 crore (i.e. 40% of the estimated capital cost of Rs.12,940 Crore) to GAIL for development of a 2,655 km Jagdishpur-Haldia/Bokaro-Dhamra Gas Pipeline (JHBDPL) project.
This pipeline, as a grid, will transport natural gas to the industrial, commercial, domestic and transport sectors in the States of Bihar, Jharkhand, Odisha, West Bengal and Uttar Pradesh.
In order to expand City Gas Network in the state of Jharkhand, the Petroleum and Natural Gas Regulatory Board (PNGRB) has authorized Rs.400 crore per district for work on the City Gas Network in Jharkhand.
Separately, Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) have decided to set up an integrated refinery-cum-petrochemical complex with a refining capacity of 60 MMTPA (Million Metric Tonnes Per Annum) at Babulwadi, Taluka Rajapur in Ratnagiri District in the state of Maharashtra, said Pradhan. fiinews.com
