Unlock India’s Energy Future: IGX CEO Reveals How NE’s Natural Gas Deposits Can Empower and Secure Our Nation
Guwahati, Nov 10: The Northeast region of India is poised to play a crucial role in enhancing the country’s energy security through the exploration and monetisation of its natural gas deposits, according to Rajesh K. Mediratta, Managing Director and CEO of the Indian Gas Exchange (IGX). Speaking at a seminar on “Gas Market Development for North East” in Guwahati, Mediratta underscored the region’s potential to significantly reduce India’s natural gas imports, which currently account for about 50% of the country’s needs.
The Northeast’s natural gas reserves could meet both local and national energy demands. Once the Northeast Gas Grid becomes operational by 2026, the region is expected to produce 6 million MMSCMD (Million Metric Standard Cubic Meters Per Day) of natural gas, which can be distributed effectively through the robust pipeline infrastructure already in place. Mediratta emphasized the economic benefits of this development, including job creation and enhanced trade opportunities, estimating savings of around Rs. 14,000 crore for India.
Additionally, the availability of natural gas would bolster local industries, including ceramics and glass manufacturing, and provide an environmentally friendly energy source for tea estates, allowing them to switch from coal to reduce carbon emissions. Furthermore, Mediratta noted that natural gas is a more cost-effective and cleaner alternative to LPG, potentially leading to higher adoption for both industrial and residential use.
On the international front, Mediratta identified Bangladesh as a promising market for exporting surplus natural gas at competitive prices, thus creating new revenue streams. With global gas prices around USD 13 per MMBTU, Northeast India’s producers stand to gain a significant economic advantage in the region.
By capitalizing on its natural gas reserves, Northeast India is set to contribute substantially to both local economic growth and national energy security.
Original Story https://assamtribune.com/north-east/nes-natural-gas-deposits-can-boost-indias-energy-security-reduce-imports-igx-ceo-1557512
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Publish Date: 2024-11-10 17:34:00
