India's gas regulator pitches for building natural gas storage
(Reuters) - India should build storage for natural gas to boost the use of cleaner fuel in the country and hedge against global price volatility, A. K. Jain, chairman of the Petroleum and Natural Gas Regulatory Board, said on Monday.
He said India should have natural gas storage that allows suppliers to build stocks when prices are low. That will also help in meeting higher demand from the industries, he added.
"For market dynamics and supply assurance for the customers to shift to gas, (we) require gas storage," Jain told reporters at an event.
India has 5 million tons of strategic petroleum reserves but no storage facilities for natural gas yet.
The country aims to raise the share of natural gas in its energy mix to 15% by 2030, from about 6.5% now.
Related News
Related News
- Cheniere signs deal with Bechtel to expand U.S. LNG export capacity
- TC Energy approves $1.5-B Columbia Gas expansion after profit tops estimates
- Wärtsilä continues to expand its data center footprint with new 790 MW order in Texas
- Baker Hughes’ fuel flexible NovaLT™ 16 gas turbine certified by RINA for marine propulsion
- U.S. natural gas exports to grow nearly 30% by 2027 as LNG facilities ramp up
Comments