Hardeep S Puri Foresees India's Energy Demand as Engine of Economic Expansion

Hardeep Singh Puri, the Minister of Petroleum and Natural Gas and Housing and Urban Affairs, recently highlighted India's rapid progress in the green and clean energy sector.

He noted that the country achieved its 10 percent target for biofuel blending five months ahead of the November 2022 deadline and has advanced the 20 percent biofuel blending target from 2030 to 2025.

Addressing the challenges of energy sector management, Puri emphasized that India is accelerating its sustainability efforts rather than slowing down.

The 20 percent blending limit for biofuels was initially imposed because automobile companies believed that up to this level, minimal changes were needed in engines.

However, India has already reached 20 percent blending, and the establishment of ethanol and biogas plants is progressing rapidly. Automotive manufacturers are also advancing their technology, as evidenced by the launch of India Oil's Green Hydrogen Bus and the introduction of electric cars and flexi-fuel vehicles.

Regarding India's growing energy demand, Puri mentioned that the country is the third-largest consumer of oil, the third-largest consumer of LPG, the fourth-largest LNG importer, the fourth-largest refiner, and the fourth-largest automobile market in the world.

He emphasized that India is expected to account for 25% of global energy demand growth over the next two decades.

Puri also highlighted the launch of the Biofuels Alliance, which is expected to increase the global biofuel market from $92 billion to $200 billion. He underlined that the journey in biofuels is just beginning and that the 10 percent ethanol blending has already resulted in significant savings on the import bill, with more savings anticipated as the blending increases.

The Minister emphasized that a country's energy consumption is a reliable indicator of its growth, and India's energy consumption is three times the global average. He encouraged more international gatherings to promote discussions and cooperation on energy-related challenges.

The 26th Energy Technology Meet, organized by the Centre for High Technology (CHT) under the Ministry of Petroleum & Natural Gas, took place from October 9 to 11, 2023, in New Delhi.

The event focused on "Emerging Energy Trends & Future of Refining" and served as a platform for sharing recent advances and technological developments in the energy, refining, and petrochemical sectors. It featured the participation of over 1,300 delegates from India and around the world, along with 27 technology service providers showcasing their latest innovations.

The event also included the presentation of Refinery Performance Improvement and Saksham Awards for FY 2022-23 and Innovation Awards by Minister Hardeep Singh Puri. Engineers India Limited (EIL) and Numaligarh Refinery Limited (NRL) co-hosted the event.