India Takes Global Lead in Biofuels with Successful Launch of GBA: Petroleum Minister
Puri highlighted the promotion of GBA as a pivotal path in the sustainability journey at COP 28 and its significance in India's agenda at WEF scheduled in Jan'2024.
January 05, 2024. By Abha Rustagi
Speaking about the growth-energy correlation, he emphasized India's position as the world's 3rd largest energy consumer, 3rd largest oil consumer, 3rd largest LPG consumer, 4th largest LNG importer, 4th largest refiner, and the 4th largest automobile market.
Puri discussed government initiatives to enhance India's Exploration and Production (E&P) sector. He highlighted a significant reduction of almost 99 percent in 'No Go' areas in the Exclusive Economic Zone (EEZ), freeing up approximately 10 lakh sq km for E&P activities. The current operational area under various programs, including Nomination, Pre-NELP, NELP, CBM, DSF, and OALP/HELP, stands at 3.27 lakh sq km.
The Petroleum Minister emphasized the achievements of India's Ethanol Blending Programme, showcasing substantial foreign exchange savings, CO2 emissions reduction, crude oil substitution, and substantial payments to both distillers and farmers.
Ethanol blending during the ESY 2022-23 saved approximately 509 crore liters of petrol, resulting in significant foreign exchange savings and prompt payments to farmers.
Puri provided insights into the growing retail outlets retailing E20, which is set to cover the entire country by 2025, with over 9300 outlets. He mentioned the voluntary CBG blending obligation (CBO) until FY 2024-2025, transitioning to mandatory blending obligation from FY 2025-26.
India's global leadership role in the Biofuels supply chain was underscored by the successful launch of the Global Biofuels Alliance (GBA) in September 2023. Puri highlighted the promotion of GBA as a pivotal path in the sustainability journey at COP 28 and its significance in India's agenda at WEF scheduled in Jan'2024.
The Minister discussed the government's efforts to increase the share of natural gas in the primary energy mix, with an investment of approximately USD 67 billion in natural gas infrastructure over the next 5-6 years.
He emphasized the substantial progress in the City Gas Distribution (CGD) network, including the increase in CGD networks, PNG connections, and CNG stations, along with the expansion of CGD coverage in terms of both population and area. The recently launched 12th CGD Bidding Round aims to further enhance coverage in the remaining areas.
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