India emerging as global demand centre provides arbitrage scope in natural gas buying, says Jain
The Hindu
Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas said that India’s emergence as the demand centre for energy in the world provides arbitrage opportunities around the globe for procuring natural gas.
India’s emergence as the demand centre for energy in the world provides arbitrage opportunities around the globe for procuring natural gas, said Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas.
He was speaking at the India Energy Week (IEW) 2024 in Goa.
Mr. Jain said that with huge buying power India can execute natural gas procurement deals much below the market rate and the government would encourage such sellers to engage in negotiations.
Towards energy transition, natural gas will see wider adoption in India due to infrastructure upgradation in terms of terminal capacity and pipeline network, Mr. Jain said adding that diversification of fuel sources both domestically and globally was key to making the cleaner natural gas available to consumers.
Referring to sectors that can enhance the current level of natural gas usage in the country, he said that scaling of gas-based mobility and expansion of piped gas connections to homes would also be demand drivers for natural gas.
The secretary said that expediting and expanding adoption of biofuels was incumbent on scaling up production of the fuel at an affordable cost.
He pointed out that recent progress in two key areas of biofuel production—feedstock collection and processing facilities—bodes well for the future.
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