SEATTLE (Oil Monster): State-run Hindustan Petroleum Corporation Ltd (HPCL) will invest ₹10,000 crore to create an end-to-end natural gas value chain, said an official from the company. The investment will be spread over the next five years, he added.
"We are trying to create a value chain from end to end, right from liquefied natural gas (LNG) buying to LNG conversion to gas as well as LNG transportation. We have got a plan of around ₹10,000 crore of investment in various LNG-related facilities, through a combination of joint ventures or private participation," Mukesh Kumar Surana, chairman and managing director, HPCL, told analysts.
Currently, HPCL is setting up 11 LNG stations and is in talks with auto manufacturers to encourage them to build facilities for LNG-based trucks and buses. The company has also approved a project for around ₹100 crore to have a corridor, which can be used along with other oil marketing companies to use LNG as a fuel, in addition to CNG.
HPCL said it is also working on a parallel mode of LNG and HCNG (hydrogen compressed natural gas). The company holds a stake in the infrastructure for LNG gasification terminal for cross-country pipelines for transportation of LNG.
"Now whether its biofuel, whether it's renewable, gas or whether it's electric, we are working on all the floors, because ultimately, our business is to provide mobility and to cater to the energy needs of the customers. And the means--we will adopt as it develops," added Surana.
The third-largest state-run oil marketing company is also building a 5 million metric tonnes per annum LNG regasification terminal at Chhara (Gir Somnath District) in Gujarat through joint venture company, HPCL Shapoorji Energy Pvt. Ltd in addition to participating in development of three cross-country natural gas pipelines (Mehsana to Bathinda, Bathinda to Srinagar and Mallavaram to Bhilwara) through joint venture companies viz. GSPL India Gasnet Limited and GSPL India Transco Ltd.
With natural gas being touted as the fuel of the future due to its clean burning properties, India plans to increase the share of natural gas in its energy mix from 6% to 15% over the next decade, and energy companies are upping their ante in the game. Other oil marketing companies including Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Ltd (BPCL) are also bullish on the natural gas segment.
IOCL has established itself as the second-largest player in natural gas in India with a licence to retail CNG and piped cooking gas in 40 Geographical Areas. IOCL is also aggressively promoting the use of compressed biogas, 2-G ethanol, and biodiesel produced from used cooking oil, besides integrating its refinery processes with biofuels production.
With natural gas being touted as the fuel of the future due to its clean burning properties, India plans to increase the share of natural gas in its energy mix from 6% to 15% over the next decade, and energy companies are upping their ante in the game. Other oil marketing companies including Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Ltd (BPCL) are also bullish on the natural gas segment.
IOCL has established itself as the second-largest player in natural gas in India with a licence to retail CNG and piped cooking gas in 40 Geographical Areas. IOCL is also aggressively promoting the use of compressed biogas, 2-G ethanol, and biodiesel produced from used cooking oil, besides integrating its refinery processes with biofuels production.
Courtesy: www.livemint.com
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