PetroFed Signs MoU with TERI

PetroFed, an apex society of entities in the Hydrocarbon sector, signed a Memorandum of Understanding (MoU) with TERI to undertake study on “Climate Change Risks: Preparedness for Oil and Gas Sector”. It will provide a missing link between the policy and the practice in the Hydrocarbon sector. Cop 21 will come into effect soon and it is important for the country to know the effects of

greenhouse gases and ways to control them.

India is a low per capita energy consumer but as the country is moving towards double-digit growth rate, its energy consumption is bound to increase. The Government is focusing on gas, renewable energy and bio-energy to meet its requirements. It is important to understand the implications of various energy sources and to develop an Indian model for the nation’s energy sector.

This study will provide important inputs for future strategy on oil and gas infrastructure development. Study will also provide a comprehensive analysis of threats posed by Climate change to Oil & Gas sector and shall provide a way forward to tackle the challenges posed by climate change.

The study will suggest suitable measures for the Oil & Gas sector to achieve India’s INDC target of reducing emission intensity of GDP by 33 – 35 per cent below the levels in 2005 by 2030.

The study would further highlight how the global market and technological options are likely to change as a result of global climate policy measures; and how the 1.5 degree and 2 degree scenarios of global warming are likely to affect the infrastructure and operations in different climatic zones of India.

The share of gas in the Indian energy basket is 6.5 to 7 per cent while the world average is 24 per cent. India aspires to take the share of gas to 15 per cent in the next 3 to 5 years so as to have a new gas based economy.

80 lakh connections have been provided under the Prime Minister Ujjwala Yojana to BPL women and target of 1.5 crore will be achieved this year.

The country will zoom from BS IV to BS VI by 2020 so as to have clean fuel. There is a large scope of energy efficiency in Indian Refineries.

Public Sector Companies are setting up 11 plants to manufacture 2G Ethanol. The Government wants to promote the LNG as a fuel for vehicles. Efforts are being made to have LNG driven bus in Kerala very soon. Long haul driven vehicles and trains would also adopt LNG as fuel.

The LNG handling capacity is being enhanced from 21 MMT to 50 MMT. In Eastern India, the Government is laying 2500km long pipeline which will provide gas to industry and help in gas distribution in 7 cities of Eastern India.