India's Ascent in Green Hydrogen: Minister Highlights Country's Potential at Geo-science Conference
Key Ideas
- India is positioned to be a global leader in green hydrogen production and exports with initiatives like hydrogen blending, localisation of electrolyzer-based technologies, and promoting bio-pathways for green hydrogen.
- The country is expected to account for 25% of the increase in global energy demand over the next two decades, with significant growth in fuel consumption projected to reach 7 million barrels by 2030.
- A bill to amend laws governing oil and gas exploration aims to provide policy stability, ease of doing business, decriminalize provisions, and introduce 'petroleum lease' to boost domestic output and reduce import reliance.
- A joint working group has been established to address industry concerns and improve ease of doing business in the oil and gas sector, with a focus on resolving contractual disputes and settling long-pending issues amicably.
Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, highlighted India's potential in green hydrogen at the 6th South Asian Geo-science Conference in New Delhi. He emphasized initiatives such as hydrogen blending, localisation of electrolyzer-based technologies, and promoting bio-pathways for green hydrogen production. India is projected to lead global hydrogen energy production and exports. The minister also discussed India's soaring energy demand, set to contribute 25% of the increase in global energy demand over the next two decades. He mentioned the remarkable growth in fuel consumption, reaching 7 million barrels by 2030. Additionally, a bill to amend laws governing oil and gas exploration aims to provide policy stability, ease of doing business, and boost domestic output while reducing import reliance. This bill introduces 'petroleum lease' and aims to decriminalize certain provisions, promoting investment and industry growth. Moreover, a joint working group has been formed to address industry concerns, improve ease of doing business, and resolve contractual disputes in the sector.
Topics
Electrolyzer
Investment
Global Leadership
Energy Demand
Oil And Gas Sector
Industry Concerns
Policy Stability
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