Speech of the Petroleum Minister Shri Dharmendra Pradhan at the launch of World Energy Outlook special report “India Energy Outlook”
Speech of the Petroleum Minister Shri Dharmendra Pradhan at the launch of
World Energy Outlook special report “India Energy Outlook”
Respected Dr. Arvind Panagariya, Vice-Chairman,
NITI Aayog;
Dr. Fatih Birol, Executive Director, International
Energy Agency;
Distinguished persons in the audience, members of
the press, ladies & gentlemen.
It gives me immense pleasure to be present
here today at the launch of “India Energy Outlook” by the International Energy
Agency (IEA).
Over the years, the World Energy Outlook
reports brought out by IEA have provided pointers towards the emerging global
energy landscape besides providing vital statistical information on the oil and
gas sector. I am sure that the World Energy Outlook for 2015, which was
launched in London earlier this month, would be equally insightful for oil
& gas industry leaders, companies and policymakers everywhere.
It is a matter of immense satisfaction and pride
for us that this year’s World Energy Outlook report has an in-depth country
focus on India, which is being launched today as India section of the World
Energy Outlook.
Needless to add, India’s rapidly rising energy
stature globally is well-deserved. With a large economy, growing population
with low per capita energy consumption, an expanding middle-class and
increasing urbanization, there is only one way for India’s energy demands to go
: that is up.
I went through the Executive Summary of the World
Energy Outlook 2015, and came across some very interesting observations and
trends.
1. By 2040, India’s energy demand
will be close to that of the United States, even though demand per capita will
still remain 40% below the world average.
2. The estimated investment which
will be required in India’s energy sector till 2040 is of the order of US$ 2.8
trillion.
3. The report projects that
India’s oil import dependence will increase above 90% by 2040.
4. The oil market is expected to
rebalance at US$ 80/barrel by 2020, and likely to further increase thereafter.
5. Developing Asian countries,
including China and India, account for almost 50% of rise in global gas demand
& 75% of the increase in LNG imports. Yet, gas will face competition from
coal and renewables.
6. The world is moving rapidly
towards efficient energy production and consumption; at the same time,
low-carbon energy options are becoming progressively more cost-competitive.
As a policymaker looking after India’s petroleum
sector, I found these nuggets of information very thought-provoking.
The govt is determined to provide universal access
to reliable and affordable energy to all sections of our people. In line with
the vision of Hon’ble Prime Minister, we want to cut down India’s import
dependence for domestic energy needs by 10% in the next 6-7 years. We are keen
to make India’s oil & gas sector fair, transparent and attractive for
domestic and foreign investors through appropriate policy, regulatory and
fiscal interventions.
In the crucial LPG sector, the Government is making
all out efforts to extend the LPG coverage to 75% of the households in the next
4 years. We have launched a highly successful Direct Benefit Transfer
Scheme, or the PAHAL Scheme, to streamline LPG subsidies. This
has been declared as the world’s largest cash transfer scheme by the Guinness
Book. We have also asked the well-off sections of the country to
voluntarily surrender LPG subsidy under the “GiveItUp” campaign; so far
more than 5 million people have given up their LPG subsidy. Besides, we have
also provided 2.6 million LPG connections to poor households under “Give
Back” initiative.
We are pursuing several petroleum sector-specific
measures under “Clean India” initiative. In line with the vision laid
down by Hon’ble Prime Minister, we want to realize a Clean and Green
fuel-based economy in the country. To this end, we are actively
promoting City Gas Distribution networks and connecting major cities with “Green
Highways”, which will have vehicles running on CNG and LNG with adequate
re-fuelling stations. The Government’s Bio-Fuel program has
resulted in mandatory 5% Ethanol blending in petrol while 5% Bio-diesel
blending in diesel has already started in 18 cities.
In a major push towards sustainable development, we
have increased targets for renewable energy capacity addition to 175 Gigawatts
by 2021-22 which will result in reduction of over 326 million tons of carbon
dioxide equivalent per year.
I am pleased to share that NITI Aayog has been
given the mandate of developing a long-term “Integrated Energy Policy”
for India. This is the vision of Hon’ble Prime Minister which is being
co-ordinated under the able guidance of Dr. Arvind Panagariya. Various
stakeholders, including my Ministry, are actively involved in this exercise; we
are hopeful that IEA’s India-specific report will provide valuable inputs for
this policy making exercise. Going forward, we would like to have IEA’s
co-operation on this and similar energy-related policy matters.
In another 3 days from now, the 2015 UN Climate
Change Conference, or COP21, will convene in Paris. Our Prime Minister has
already given a call for “Climate Justice” to protect the poor and vulnerable
from adverse impacts of climate change. India has declared its Intended
Nationally Determined Contributions (INDCs) which aim to reduce the Emissions
Intensity of its GDP by 33 to 35 per cent by 2030 from 2005 level.
Before concluding, my compliments once again to
International Energy Agency for bringing out this India Energy Outlook.
Thank you, all.
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Dabhol power plant recommences power generation
The Dabhol power plant, owned by Ratnagiri Gas and Power Private Limited (RGPPL), restarted electricity generation this morning after having been shut for nearly two years due to shortage of domestic gas. The plant is producing 290 MW power initially which will be sold to the Indian Railways. The electricity generation will be further scaled up in the coming months. This achievement was made possible with the concerted efforts of several stakeholders: Central Government, which allocated gas under the new pooling mechanism for gas-based power plants, Maharashtra State Government, NTPC, GAIL, MERC and Indian Railways.
RGPPL, promoted by NTPC Limited and GAIL (India) Limited, was set up to takeover and revive the assets of Dabhol Power Company Project. The company has 1967 MW capacity power plant located at Village Anjanwel, District Ratnagiri in Maharashtra, nearly 330 KM from Mumbai.
RGPPL, promoted by NTPC Limited and GAIL (India) Limited, was set up to takeover and revive the assets of Dabhol Power Company Project. The company has 1967 MW capacity power plant located at Village Anjanwel, District Ratnagiri in Maharashtra, nearly 330 KM from Mumbai.
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