Indian Oil to Invest $944 Million on Gas Sales Network in Nine New Areas
NEW DELHI (Reuters) — Indian Oil Corp, the country's top refiner and fuel retailer, aims to invest 70 billion rupees ($944.02 million) to build gas sales network infrastructure, including pipelines, in new areas, the company said on Sunday.
IOC said it has obtained nine licenses to sell gas to households, automobiles and small industries, representing about a third of the demand potential in 61 geographical areas in various states that were recently auctioned by the Petroleum and Natural Gas Board. The new licences awarded to IOC relate to major districts of some states. The company is already working on gas sales projects worth 200 billion rupees.
Prime Minister Narendra Modi is aiming to raise the share of natural gas in India's energy mix to 15% by 2030 from the current 6.2%. Natural gas, while still a fossil fuel, emits less CO2 than coal.
India, the world's third biggest emitter of greenhouse gases, has set a 2070 goal for net zero carbon emissions.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports
Comments