India's Energy Security and Green Transition: A Promising Future Ahead
Key Ideas
  • Union Minister Puri highlights India's strong energy security position and ability to purchase petroleum products competitively.
  • India has diversified its oil suppliers from 27 to 39, ensuring a stable and varied supply chain.
  • Puri emphasizes affordability over availability, noting decreased energy prices in India due to tax cuts.
  • India aims to excel in biofuel usage, Compressed Biogas (CBG), Compressed Natural Gas (CNG), and Green Hydrogen production.
Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, spoke at the Mangaluru Lit Fest about India's energy security and its efforts to diversify energy sources. He expressed confidence in India's strong position, being able to purchase petroleum products competitively from a wide range of suppliers. Puri highlighted the increase in the number of oil suppliers to 39, ensuring a stable and varied supply chain. He reassured that there is no need to worry about oil availability in the international market. Puri emphasized that affordability is a more significant concern than availability, mentioning the decrease in energy prices in India due to tax cuts. Looking ahead, Puri predicted a drop in international gas prices post-2026-27, driven by cheaper imports and the global green transition. He expressed confidence in India meeting its target of 20% biofuel usage by 2025 and excelling in the production of Compressed Biogas (CBG), Compressed Natural Gas (CNG), and Green Hydrogen. Puri believes that the green hydrogen revolution will succeed in India due to local demand, production, and consumption, highlighting the importance of local production for its success.
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