India is working on a plan to set up a gas trading hub or exchange for free trade of natural gas and its supply through a market mechanism but no timeline can be indicated on the back of multiple issues involved, the government today said.
“In view of the administrative, legal, operational issues involved, a precise time frame for operationalizing the gas trading exchange or hub cannot be indicated at this stage,” petroleum and natural gas minister Dharmendra Pradhan said in reply to a written question asked in Parliament.
India’s energy sector requires annual investments worth $150 billion until 2040 according to the draft National Energy Policy of NITI Aayog.
In order to develop the national gas grid, the government has taken a decision to provide a capital grant of Rs 5,176 crore — about 40 per cent of the estimated cost of Rs 12,940 Crore — to GAIL for development of 2,655 Km long Jagdishpur-Haldia/Bokaro-Dhamra Gas Pipeline project. Read more
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