PM Narendra Modi bets big on hydrocarbons and biofuels

In New Delhi today, the prime minister inaugurated the Petrotech conference on the theme of ‘Hydrocarbons to Fuel the Future – Choices & Challenges’.

Takshak Dawda By Takshak Dawda calendar 05 Dec 2016 Views icon11126 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Prime minister Narendra Modi has highlighted the importance of hydrocarbons and biofuels as the future of energy and mobility sectors. In New Delhi today, the prime minister inaugurated the Petrotech conference on the theme of ‘Hydrocarbons to Fuel the Future – Choices & Challenges’.

Speaking at the inaugural session, he said, “Energy in general and hydrocarbons, in particular, are an important part of my vision for India’s future. India needs energy which is accessible to the poor. It needs efficiency in energy use. As a responsible global citizen, India is committed to combating climate change, curbing emissions and ensuring a sustainable future. Given global uncertainties, India also needs energy security. Therefore, my vision for India’s energy future has four pillars – Energy Access, Energy Efficiency, Energy Sustainability and Energy Security.”

The prime minister further stated that India will account for almost 25 percent of the global energy demand between 2013 and 2040. “India’s economy is expected to grow five-fold by 2040. As per estimates, India is poised to account for one-fourth of the incremental global energy demand between 2013 and 2040. India is expected to consume more oil in 2040 than the whole of Europe. We expect manufacturing to account for 25 percent of GDP by 2022 against 16% now,” he added.

Focus on cleaner fuels

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The prime minister went on to highlight the importance of using cleaner fuels instead of traditional ones. “CNG, LPG, and biofuels are cleaner fuels for the transportation sector. We need to explore options to produce biodiesel on barren lands, which will further provide financial assistance to farmers. Research on second- and third-generation biofuels and fuel cells are required to meet the country's energy challenges,” he said.

Further emphasising greener fuels, Dharmendra Pradhan, minister of state for Petroleum and Natural Gas (pictured above), said, “The government has taken several initiatives and reforms in upstream, midstream and downstream sectors. Among other measures, we have introduced an investor-friendly Hydrocarbon Exploration and Licensing Policy; programmes for tapping unconventional sources like CBM & Gas Hydrates; efforts towards increase of gas share in energy mix from 6 percent to 15 percent; building gas pipeline and LNG re-gasification  infrastructure; switching to BS VI emission norms which are equivalent to Euro 6 norms by 2020 for reduction of vehicular emissions; adoption of ethanol blending programme, promotion of 2G ethanol and bio-diesel programme to develop alternate fuels.”

CV parc to reach 56 million, GST to accelerate transport

Envisioning the expansion of the transport sector in India, the prime minister said, “India’s commercial transport sector has become skewed. An increasing proportion of goods is transported by road. To increase energy efficiency, my government has given the highest-ever priority to the railways. These steps will improve energy efficiency. The long-awaited legislation on national Goods and Services Tax has been passed. By removing physical barriers at state boundaries, GST will accelerate long-haul transport and further increase efficiency.”

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“Transport infrastructure is also expected to increase manifold. The commercial vehicle population of 13 million is projected to reach 56 million by 2040,” he added.

The Petrotech conference, from December 5-7, 2016, is the largest ever in terms of participation of above 6,500 delegates including 20 minister-level representatives.

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