India is looking at new business models to diversify electricity generation by combining gas, renewables and energy storage, Indian oil minister Dharmendra Pradhan said on the closing day of the CERAWeek India Energy Forum October 10.
The south Asian nation is also keen to diversify its vehicles, making them cleaner and more efficient through increased usage of modern fuel specification and electric vehicles, plus examining other alternatives such as CNG and LNG, the minister said.
Pradhan said also that the government is focusing on the growth of energy infrastructure, through new pipelines, LNG terminals and offshore gas development projects.
The Narendra Modi government is aiming to increase the share of natural gas in the energy mix to around 15% over the next five years – from today’s 6-7% – in order to reduce pollution in India’s urban clusters.
Taking advantage of low global LNG prices, Indian consumers imported considerably higher volumes in the 12 months to March 2017.
India’s LNG imports are expected to continue to rise as demand grows and infrastructure for imports expands, with many new terminals planned for the country’s east coast.
These terminals will directly serve the eastern states where gas usage is far lower than in western India. At present all four LNG imports terminals in India are located on the west coast.
The government is also expanding the natural gas pipeline network in the east of the country.
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