It is welcome that the Centre has decided to revamp market design for natural gas, to better match supply with demand and bring about price efficiency as well. Petroleum and natural gas minister Dharmendra Pradhan says India would soon build a natural gas trading platform. It would boost transparency in gas pricing, and better allocate resources for pipelines and attendant infrastructure.
There is a case for stepping up gas usage in our energy mix, from 6-7 per cent of commercial energy now, much lower than the global average of 24 per cent. And in rapidly urbanising India, we need to boost gas supplies to provide peaking power, piped cooking gas, reduce harmful emissions in transportation and also advance manufacturing.
Note that gas consumption nationally rose to 55.5 billion cubic metres (BCM) in 2016-17, with almost 31BCM domestic gas output and nearly 25 BCM liquefied natural gas (LNG) imports. In the short-to-medium term, there’s much scope to raise LNG imports. Read More…
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