Hydrocarbon will be the most important source of energy for decades to come in India

Sarkaritel
By Sarkaritel September 8, 2016 10:12

Hydrocarbon will be the most important source of energy for decades to come in India


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Gandhinagar, 8th September, 2016: Hydrocarbons are likely to remain the most important source of energy for decades to come in India, despite other forms of energy like coal, renewable energy, etc. India is currently the fourth largest consumer of petroleum products in the world in spite of a very low per capita consumption, said Ajay Sawhney, (IAS), Additional Secretary, Ministry of Petroluem & Natural Gas, while inaugurating the 20th Refinery Technology Meet at Gandhinagar, Gujarat, today.

Sawhney shared that under the visionary leadership of the Prime Minister Narendra Modi, India has emerged as a bright spot in the global economy in last two years. The country’s annual growth rate is hovering around 7.6%, which is expected to rise even further. The government is committed towards achieving holistic, inclusive and sustainable high economic growth. 

Sawhney also shared that one of the main commitments of the present Government is to provide affordable and reliable energy to all segments of the economy and society, including the common man of India. For this, he said the country needed research and innovation to make clean energy technology available, accessible and affordable for all.  A challenge before the oil industry of India is to reduce import dependence of oil and gas by 10% by 2022 as part of the national developmental agenda. Mr. Sawhney added that India has developed cost effective yet modern and complex refining capacity. The recently commissioned state-of-the-art refinery by IndianOil at Paradip refinery showcases the indigenously developed INDMAX technology for maximising LPG and propylene. The  Indian refining Industry has a rich portfolio of technologies can  provide end-to-end solutions for most of the technologies for setting up a complex refinery on its own, but the opportunities are endless to innovate.

Sarkaritel
By Sarkaritel September 8, 2016 10:12