Budget 2021-22 wishlist: Here are the key challenges in oil & gas sector
Low gas price cycles are posing challenges to new upstream gas projects in deep-water fields
Union Budget | oil and gas | Gas price
Slow transition to low carbon fuels: For India to continue as a leader in fighting climate change, there is a need to focus on hydrogen economy and deploy carbon negative technologies like carbon capture utilisation and storage (CCUS)
Challenges to gas-based economy: To achieve the target of increasing gas share to 15 per cent of energy mix, there is a need to democratise gas sale and purchase, create significant LNG import units, enable free access to infrastructure and make gas swap practical
Crude oil and natural gas production decline: The production is on a steady decline over the past five years due to maturing fields. All stops need to be removed to let new production come online
Low prices for domestic gas: Low gas price cycles are posing challenges to new upstream gas projects in deep-water fields
CGD sector needs improved ecosystem: CGD Geographical Area licences are allotted, although gas availability, third party access perationalisation, contractual sustenance, and financing constraints seem to bottleneck to take-off
Bringing natural gas under the ambit of classical GST
Liberalise gas pricing by allowing the buyers to purchase the gas at higher than domestically capped prices
Accelerating ethanol and biogas sectors’ development through capacity creation
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First Published: Tue, January 12 2021. 00:03 IST