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Govt to invest $20 billion in gas fields in next 5-7 yearrs: Dharmendra Pradhan

This is to develop natural gas discoveries by state-owned ONGC and Reliance Industries-BP joint venture off the east coast

Press Trust of India  |  New Delhi 

An oil refinery
An oil refinery

will see an of about $20 billion in gas field development in the next 5-7 years and is looking to boost usage of the green fuel and double consumption, Minister Dharmendra Pradhan said on Wednesday.

The will be primarily in developing natural gas discoveries by state-owned and Industries-BP joint venture off the east coast, the minister said at CII's 'Global Dialogue' event here.



"We are now expediting production of gas from domestic sources to the extent of 20 trillion cubic feet from already discovered sources through policy, fiscal and regulatory mechanism. These fields and the current auctions of Discovered Small Fields are going to add to the domestic supplies in the next 3-4 years," he said.

is lining up $5.07 billion to produce over 16 million standard cubic metres per day of natural gas from a set of discoveries in its Krishna Godavari basin KG-DWN-98/2 block.

RIL-BP has several discoveries in the adjacent KG-DWN- 98/3 or KG-D6 block and NEC-25 off the Odisha coast.

"About $20 billion will be invested in next 5-7 years primarily in deepwater fields to augment gas production," he said.

Natural gas makes up for 6 per cent of the primary basket in as against a global average of more than 24 per cent.

"We are determined to increase the gas offtake significantly as it would serve several objectives. By switching to this cleaner fuel and diversifying our mix, we can augment our fight towards climate justice," he said.

"Second, we can substitute liquid fuels with natural gas in several applications; this will help us in our objective of reducing our import dependency for by 10 per cent from the current levels by 2022."

For this, availability of natural gas is being increased by boosting domestic gas output, importing and through trans-national gas pipelines.

Also, gas infrastructure, including pipeline, city gas network and import infrastructure is being improved.

"We are realigning the infrastructure planning, given the role is going to play in our supply mix. The northern and western regions in consume around 80 per cent of the overall volume of gas utilised in the country. We are working to change it and make eastern and southern as new growth centre," he said.

An additional 34 million tonnes per annum of import terminal capacity are being added while pipeline network will be doubled to about 30,000 km in the next five years.

Also, is pursuing trans-national pipeline projects like Turkmenistan-Afghanistan-Pakistan-(TAPI) pipeline. Also a 1,300-km undersea gas pipeline to bring natural gas from Iran to is being studied, he said.

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Govt to invest $20 billion in gas fields in next 5-7 yearrs: Dharmendra Pradhan

This is to develop natural gas discoveries by state-owned ONGC and Reliance Industries-BP joint venture off the east coast

This is to develop natural gas discoveries by state-owned ONGC and Reliance Industries-BP joint venture off the east coast will see an of about $20 billion in gas field development in the next 5-7 years and is looking to boost usage of the green fuel and double consumption, Minister Dharmendra Pradhan said on Wednesday.

The will be primarily in developing natural gas discoveries by state-owned and Industries-BP joint venture off the east coast, the minister said at CII's 'Global Dialogue' event here.

"We are now expediting production of gas from domestic sources to the extent of 20 trillion cubic feet from already discovered sources through policy, fiscal and regulatory mechanism. These fields and the current auctions of Discovered Small Fields are going to add to the domestic supplies in the next 3-4 years," he said.

is lining up $5.07 billion to produce over 16 million standard cubic metres per day of natural gas from a set of discoveries in its Krishna Godavari basin KG-DWN-98/2 block.

RIL-BP has several discoveries in the adjacent KG-DWN- 98/3 or KG-D6 block and NEC-25 off the Odisha coast.

"About $20 billion will be invested in next 5-7 years primarily in deepwater fields to augment gas production," he said.

Natural gas makes up for 6 per cent of the primary basket in as against a global average of more than 24 per cent.

"We are determined to increase the gas offtake significantly as it would serve several objectives. By switching to this cleaner fuel and diversifying our mix, we can augment our fight towards climate justice," he said.

"Second, we can substitute liquid fuels with natural gas in several applications; this will help us in our objective of reducing our import dependency for by 10 per cent from the current levels by 2022."

For this, availability of natural gas is being increased by boosting domestic gas output, importing and through trans-national gas pipelines.

Also, gas infrastructure, including pipeline, city gas network and import infrastructure is being improved.

"We are realigning the infrastructure planning, given the role is going to play in our supply mix. The northern and western regions in consume around 80 per cent of the overall volume of gas utilised in the country. We are working to change it and make eastern and southern as new growth centre," he said.

An additional 34 million tonnes per annum of import terminal capacity are being added while pipeline network will be doubled to about 30,000 km in the next five years.

Also, is pursuing trans-national pipeline projects like Turkmenistan-Afghanistan-Pakistan-(TAPI) pipeline. Also a 1,300-km undersea gas pipeline to bring natural gas from Iran to is being studied, he said.
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Business Standard
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Govt to invest $20 billion in gas fields in next 5-7 yearrs: Dharmendra Pradhan

This is to develop natural gas discoveries by state-owned ONGC and Reliance Industries-BP joint venture off the east coast

will see an of about $20 billion in gas field development in the next 5-7 years and is looking to boost usage of the green fuel and double consumption, Minister Dharmendra Pradhan said on Wednesday.

The will be primarily in developing natural gas discoveries by state-owned and Industries-BP joint venture off the east coast, the minister said at CII's 'Global Dialogue' event here.

"We are now expediting production of gas from domestic sources to the extent of 20 trillion cubic feet from already discovered sources through policy, fiscal and regulatory mechanism. These fields and the current auctions of Discovered Small Fields are going to add to the domestic supplies in the next 3-4 years," he said.

is lining up $5.07 billion to produce over 16 million standard cubic metres per day of natural gas from a set of discoveries in its Krishna Godavari basin KG-DWN-98/2 block.

RIL-BP has several discoveries in the adjacent KG-DWN- 98/3 or KG-D6 block and NEC-25 off the Odisha coast.

"About $20 billion will be invested in next 5-7 years primarily in deepwater fields to augment gas production," he said.

Natural gas makes up for 6 per cent of the primary basket in as against a global average of more than 24 per cent.

"We are determined to increase the gas offtake significantly as it would serve several objectives. By switching to this cleaner fuel and diversifying our mix, we can augment our fight towards climate justice," he said.

"Second, we can substitute liquid fuels with natural gas in several applications; this will help us in our objective of reducing our import dependency for by 10 per cent from the current levels by 2022."

For this, availability of natural gas is being increased by boosting domestic gas output, importing and through trans-national gas pipelines.

Also, gas infrastructure, including pipeline, city gas network and import infrastructure is being improved.

"We are realigning the infrastructure planning, given the role is going to play in our supply mix. The northern and western regions in consume around 80 per cent of the overall volume of gas utilised in the country. We are working to change it and make eastern and southern as new growth centre," he said.

An additional 34 million tonnes per annum of import terminal capacity are being added while pipeline network will be doubled to about 30,000 km in the next five years.

Also, is pursuing trans-national pipeline projects like Turkmenistan-Afghanistan-Pakistan-(TAPI) pipeline. Also a 1,300-km undersea gas pipeline to bring natural gas from Iran to is being studied, he said.

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Business Standard
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