(MENAFN- KNN India)
New Delhi, Nov 16 (KNN)
India is set to become a global leader in hydrogen energy production and exports, according to Union Minister for petroleum and Natural gas Hardeep Singh Puri.
Speaking at the 6th South Asian Geoscience conference and Exhibition, Puri highlighted initiatives including hydrogen blending in Natural gas pipelines, localization of electrolyzer technologies, and bio-pathways for green hydrogen production as key drivers of this advancement.
The nation's energy consumption continues to surge, with daily oil consumption currently at 5.4 million barrels and projected to reach 7 million barrels by 2030.
Notably, India's fuel demand is growing at three times the global average, with daily petrol pump visits reaching 67 million people-equivalent to the combined population of the UK, France, and Italy.
India is expected to account for 25 percent of the global energy demand increase over the next two decades.
Minister Puri emphasised that the country is successfully managing the triple challenges of energy availability, affordability, and sustainability, supported by comprehensive exploration and production efforts.
Despite being the world's third-largest crude oil consumer, India's exploration potential remains largely untapped.
The country possesses 651.8 million metric tons of recoverable crude oil reserves and 1138.6 billion cubic metres of recoverable natural gas reserves.
Exploration coverage of sedimentary basins has increased from 6 percent in 2014 to 10 percent currently, with plans to reach 16 percent by 2025 through Open Acreage Licensing Policy rounds.
The GEO India 2024 conference, expected to attract approximately 2,000 participants, will feature over 20 conference sessions, 4 plenary discussions, 200+ technical papers, and 50+ exhibition booths.
Minister Puri expressed confidence in geoscientists' innovative capabilities to drive India's energy revolution, aiming to ensure energy security for all citizens while addressing future challenges.
The government has set an ambitious target to expand India's exploration acreage to 1 million square kilometres by 2030.
(KNN Bureau)
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