India to Develop Gas Infrastructure
India has unveiled its plan to invest in developing the gas infrastructure. India has planned to invest around $60bn in next four years to the infrastructure for gas.
- This announcement was made by Indian Petroleum Minister Dharmendra Pradhan in an event.
- He said, the government has planned to develop the gas infrastructure as the government seeks to increase the share of natural gas.
- Government has planned to invest in India’s energy mix from 6% to 15% by the end of year 2030.
- $60bn fund will be spend in creating gas infrastructure till 2024.
- The infrastructure includes pipelines, LNG terminals and the city gas distribution (CGD) networks.
The government has also launched the India’s first automated national-level gas trading platform. The platform was launched to facilitate the trading and support the robustness of the market.
City Gas Dstribution (CGD) projects
The CGD projects have also been expanded to include 232 geographical areas. These geographical areas spread across 400 districts. Apart from that, the government is also adopting the clean mobility solutions. The solutions include greater use of Liquefied Natural Gas (LNG) as transportation fuel and long-haul trucking. Government will be installing 1,000 LNG fuel stations across India. In November 2020, foundation stone was laid down for first 50 LNG fuel stations of India.
Oil and Gas Industry
The oil and gas industry of India was first established in the year 1889. In the year 1889, first oil deposits in India were discovered in Digboi, Assam. Natural gas industry of India started to function in 1960s after gas fields were discovered in Assam and Gujarat. India had estimated crude oil reserves of 594.49 million tonnes as of 2018.