PM Modi to inaugurate India Energy Forum:India may see $206 bn investment in oil and gas
Published On: Monday, October 26, 2020 | By: Team KnowMyStock
The country's oil and natural gas sector is likely to see investment to the tune of $206 billion during the next eight to ten years.With Prime Minister Narendra Modi addressing the top global executives at the India Energy Forum by CERA Week 26th Oct.2020, it is expected he would further entice companies to promote a cor a self-reliant India. This when the domestic fuel market is recovering from the pandemic-driven decline. The three-day forum will see participation from Dan Brouillette (US Secretary of Energy), Prince Abdulaziz (Minister of Energy of Saudi Arabia) and Sultan Ahmed Al Jaber (CEO of Abu Dhabi National Oil Company). “The importance of such a global meet comes when you realize that the country is set to see such large investment this decade.
“The importance of such a global meet comes when you realise that the country is set to see such large investment this decade. This includes investments to the tune of $67 billion in gas infrastructure -- LNG capacity increase, pipelines and CGD networks. Global players like Total, Exxon Mobil and Shell have shown their interests in this field” said a government official.
The virtual event will also see participation from industry bigwigs.
India has also seen increased focus on clean energy in recent years.“The share of renewable in electricity capacity has significantly gone up now to 22 per cent from around 10 per cent in 2014-15. The ethanol blending percentage has risen from 0.67 per cent in 2012-13 to now close to 6 per cent. In addition, we have launched schemes like Ujjwala giving access to clean energy for common man, BS VI fuel was launched and also Hydrogen-CNG also became a part of our fuel basket,” he said
Tags: India Energy Forum
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