The Indian Chamber of Commerce organized India Oil & Gas Summit 2021

News Desk, News Nation 360 :  one of the leading national chambers of India, The Indian Chamber of Commerce (ICC) organized India Oil & Gas Summit 2021 at the ICC auditorium with the aim to transform Bengal into a Gas based economy. The summit was conducted keeping in mind India’s vision of raising the share of gas and energy mix from 6% to 15% by 2030. It is expected that increasing natural gas in the power sector will also scale up renewable energy to 450 GW by 2030. The coal demand per capita has increased from 25% to 1990 to 50% to 2019 on the world average. There has been a significant rise in CO2 emission leading to rising global temperature. It is hence important to reduce this harm by increasing the use of natural gas, biogas and electrolytic hydrogen potions of fuel gas. Asim Prasad, Zonal Chief General Manager & OIC, GAIL (India) Limited (Kolkata Zonal Office) stated that Bengal has shown a progressive vision for a sustainable future, manifesting support to the three pillars of sustainability, the economy, environment and society. The gas-based economy is going to be the launchpad to bridge the gap between polluting fossil fuels like Coal & Oil and renewables, the ultimate goal for achieving ‘Net Zero’. The dimensions which are vital to transforming Bengal into a gas-based economy are Natural Gas Access & investment in building pipeline infrastructure, natural gas availability, natural gas appetite, affordability, natural gas market perception & benefits, statutory permission ROU, stakeholders engagement etc. A collective effort by all decision-makers and influential stakeholders will be vital for this transformation. According to AC Mishra, Executive VP and Plant Head, MCPI Pvt. Ltd. they are thankful to the Indian Chamber of Commerce for this session as this is an important concern and they all are unitedly looking at reducing the carbon footprints.  In India, especially in Bengal, there is a need for proper supply and infrastructure. As GDP and per capita income are increasing the demand for gas is also is increasing. In order to overcome this problem, they need a proper infrastructure for natural gas. The easiest solution is city gas distribution which most of the oil companies are following. As per GAIL, the pipeline network is increasing, another 14,000 is added. ICC needs to influence the policymakers to look at increasing natural gas availability. Sanjoy Ghosh, GM (CGD), HPCL expressed that they believe ICC can play an important catalyst role for faster implementation of the CGD project of HPCL. Government intervention is needed to create a natural gas environment in the state. All the stakeholders including the government should jointly focus on this. Their transport minister is extremely proactive, and he is taking measures to convert commercial vehicles to CNG vehicles. Another important aspect is a domestic pipeline to be introduced as it is safer and cheaper than LPG. 

Report : Anustup Kundu