Business News | India Poised to Lead Global Hydrogen Production and Exports: Hardeep Singh Puri
Get latest articles and stories on Business at LatestLY. India is poised to lead the global hydrogen energy production and exports says Union minister for petroleum and natural gas Hardeep Singh Puri.
Greater Noida (Uttar Pradesh) [India], November 15 (ANI): India is poised to lead the global hydrogen energy production and exports says Union minister for petroleum and natural gas Hardeep Singh Puri.
Speaking at the 6th South Asian Geoscience Conference and Exhibition, Puri said, "With projects like hydrogen blending in natural gas pipelines, localization of electrolyzer-based technologies, and the promotion of bio-pathways for green hydrogen production, India is set to become a global champion in hydrogen production and exports."
Puri added that India is on track to emerge as the hub for green hydrogen, considered as the fuel for the future.
India's energy demand continues to soar with daily consumption currently at 5.4 million barrels, projected to reach 7 million barrels by 2030.
The minister noted that 67 million people visit petrol pumps daily, a figure equivalent to the combined population of the UK, France, and Italy.
He emphasized India's remarkable growth in fuel demand, which is three times the global average. Over the next two decades, 25 per cent of the increase in global energy demand is expected to come from India.
Balancing the trilemma of availability, affordability, and sustainability, Puri said India is excelling on all three fronts. He reaffirmed the nation's unwavering commitment to energy security, supported by robust exploration and production efforts.
However, despite being the third-largest global consumer of crude oil, India's exploration sector is highly untapped. The country boasts 651.8 million metric tons (MMT) of recoverable crude oil reserves and 1138.6 billion cubic meters (BCM) of recoverable natural gas reserves within its sedimentary basins that need to be explored.
Till 2014 only 6 per cent of the sedimentary basin area was under exploration. Today, 10 per cent of these basins are being explored, and this is set to rise to 16 per cent by 2025 following the upcoming awards under the Open Acreage Licensing Policy (OALP) rounds.
"Our goal is to expand India's exploration acreage to 1 million square kilometres by 2030," Puri said.
GEO India 2024, is expected to draw around 2,000 participants and feature over 20 conference sessions, 4 plenary discussions, 200+ technical papers, and 50+ exhibition booths. Puri expects new ideas for the much needed energy revolution."I have great faith in the innovative minds of geoscientists to lead an energy revolution in India, ensuring energy security for every citizen and meeting future challenges," he said. (ANI)
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