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‘Blue Flame Revolution’ is underway, LPG coverage over 90 % : PM

 

Speed Post News Network

New Delhi : The 13th edition of  PETROTECH – 2019, India’s flagship hydrocarbon conference, was inaugurated by Prime Minister Narendra Modi at India Expo Centre, Greater Noida, Uttar Pradesh, on February 11, 2019.

In his inaugural address, the PM underlined the importance of energy as a key driver of socio-economic growth. “Suitably priced, stable and sustainable energy supply, is essential for rapid growth of the economy. It also helps the poor and deprived sections of society to partake of economic benefits,” he added.

Stating that the there is a shift in energy consumption from West to East, PM Modi said that United States has become the world’s largest oil and gas producer after the shale revolution. However, there are signs of convergence between cheaper renewable energy, technologies, and digital applications which may expedite the achievement of many sustainable development goals.

The PM said  it is the need of the hour “ …move to responsible pricing, which balances the interests of both the producer and consumer. We also need to move towards transparent and flexible markets for both oil and gas. Only then can we serve the energy needs of humanity in an optimal manner.”

Reminding the global community to join hands in tackling the challenge of climate change, he said targets we set for ourselves at COP-21 in Paris can be achieved. In this context, he mentioned that  India has made rapid strides in meeting its commitments.

The PM congratulated Dr Sultan Al Jaber for his contribution to the energy sector and vision for the future.  He said that Industry 4.0 will change the way industry operates with new technology and processes. Our companies are adopting latest technologies to improve efficiency, increase safety and reduce costs, he added.

He said that currently India is the fastest growing large economy in the world and could be the second largest economy in the world by 2030 and also the third largest energy consumer in the world. With energy demand expected to more than double by 2040, India remains attractive market for energy companies, he added.

The PM recalled the last PETROTECH Conference in December 2016, where he mentioned about four pillars for India’s energy future – energy access, energy efficiency, energy sustainability and energy security. Energy justice is also a key objective and now  a top priority for India. He said, “Towards this end, we have developed and implemented many policies. The results of these efforts are now evident. Electricity has reached all our rural areas.”

He said a ‘Blue Flame Revolution’ is underway with LPG coverage reaching more than 90% percent from 55% five years ago. ” India today has the fourth largest refining capacity in the world. This will further grow by about 200 million metric tons by 2030,” the PM added. He noted that India is making rapid strides towards a gas based economy. Over sixteen thousand kilometres of gas pipeline has been constructed and an additional eleven thousand kilometers is under construction, according to a PIB release.

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