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India’s 15% gas target faces industrial push challenge, ET EnergyWorld
New Delhi: With India aiming to increase natural gas usage to 15% of its energy mix, experts highlighted the challenges in achieving this target at the Economic Times Oil & Gas Annual Conference & Expo 2024. Speaking during a panel discussion on E&P Strategies for the Future: Navigating Technological and Market Dynamics, Deepak Mahurkar, Leader, Oil and Gas, PwC India, emphasized, “Meeting the 15% gas target is unattainable by focusing only on PNG and CNG. Industrial and commercial sectors must drive gas utilization, requiring CGD companies to invest and adopt innovative business models.”Expanding energy mix beyond conventional fuels
The global energy sector continues to expand, with oil, gas, and coal consumption at record highs. “The global energy sector reflects expansion rather than transition, with record consumption of oil, gas, and coal. These fuels will dominate the mix, but opportunities for alternative energy are growing,” said Donald Walker, Vice President & Head of Reservoir Characterization, Reliance Industries Ltd.
Coordinated energy transition efforts needed
Subhash Kumar, Former Member of the Energy Transition Advisory Committee, stressed the importance of integrated planning. “India should establish an Energy Transition Advisory Committee to coordinate efforts across ministries, ensuring integrated planning and regulation for energy transition initiatives spanning coal, power, and petroleum sectors,” he said.
Focus on emerging energy technologies
Highlighting the role of new energy technologies, Arun Mittal, Executive Director, Oil Industry Safety Directorate, said, “We are developing a safety standard for compressed bio gas and aligning our efforts with the evolving focus of oil and gas companies on new and emerging energy areas.”
Balancing expansion and transition
Experts underscored the need for innovation, investments, and cross-sector collaboration to balance energy expansion with transition goals, ensuring that India meets its energy security and sustainability objectives.
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