An estimated investment of USD 60 billion lined up for developing gas infrastructure: Dharmendra Pradhan

Union Minister for Petroleum, Natural Gas and Steel, Dharmendra Pradhan on Wednesday said that the central government was pushing to fulfil India's energy needs and an estimated USD 60 billion dollars investment is lined up to develop the infrastructure for this purpose.

"We are making all efforts to move towards a gas-based economy. An estimated investment of 60 billion dollars is lined up in developing gas infrastructure, which includes pipelines, city gas distribution and LNG terminals," Pradhan said at the Enrich 2019 event.

Enrich is KPMG India's annual energy conclave. Its theme this year is "Navigating Energy Transition".

"India has a huge appetite for energy, and will be a driver of global energy demand in coming decades," Pradhan said in his address.

He also said that the government is pushing for increased energy production with a reduced carbon footprint.

"Global energy system is transforming at an unprecedented pace. India, too, is in the midst of a major transformative shift in its energy sector. In India we are finding ways to achieve the twin objectives of more energy and less carbon through a healthy mix of all commercially-viable energy sources. India will chart its own course of the energy transition in a responsible manner," Pradhan said.

Pradhan also said that sustainability is a key concern for his government.

"The centrality of energy growth in a sustainable manner is a high priority of our government. There is unprecedented advancement, on both the demand and supply sides of the equation, as the world and India seek out more benign methods to advance global growth and welfare," he said.

"The trajectory to end energy poverty in India, as compared to the rest of the world, would be based on special national circumstances. This is more so when the average Indian lives only on a third of the per capita consumption of energy that the United Nations believes is necessary for human well-being," he added.