ProMASS: DEC 05, 2016: Inaugurating the 12th International Oil and Gas Conference, PETROTECH-2016, in New Delhi today, Prime Minister Narendra Modi said India needs to increase its domestic oil and gas production and reduce import. Mr Modi said, energy is the key driver of the country’s economic growth. He said the country needs affordable and reliable sources of energy to meet the increasing demand. He further added, energy sustainability is a sacred duty which India does out of commitment and not out of compulsion. He said, the country needs energy which is accessible to the poor and efficient in its use. The Prime Minister said, hydrocarbons will continue to play an important role in India’s growth. He said, energy in general and hydrocarbons in particular are an important part of his vision for India’s future. Mr Modi said, India’s economy is expected to grow five fold by 2040. He also urged global hydrocarbon companies to come and Make in India.
Mr Modi said, government aims to provide piped natural gas connection to 10 million houses and double pipeline network to 30 thousand kilometres in the next 5 years. He said, he is committed to expand the National gas grid network from its current length of fifteen thousand kilometres to thirty thousand kilometres pipeline. The Prime Minister said, India is building a new gas pipeline to the least developed eastern region which will become the catalyst for millions of new jobs. He said, while global economy goes through uncertainty, India has shown tremendous resilience and Foreign Direct Investement is at the highest level. Earlier, Petroleum and Natural Gas Minister Dharmendra Pradhan said, the three day PETROTECH Conference will provide a platform for national and international experts from oil and gas industry to exchange views and share knowledge, expertise and experience.
Courtesy: AIR NEWS