India wants to set up its own gas storage facilities to increase its share of cleaner fuel usage. This was expressed by Anil Kumar Jain, Chairman of the State Council for the regulation of oil and gas, transmits The Economic Times newspaper.
“Natural gas storage will allow suppliers to build up stocks when prices are low and will also help meet high demand from the industry,” said Kumar Jain.
According to him, the construction of new storage facilities will also increase the dynamics of fuel supply to the country. In turn, consumers will have more opportunities to switch to gas.
According to the newspaper, India has 5 million tons of strategic oil reserves, but no gas storage. In addition, Indian authorities want to increase the share of gas in the energy balance from 6.5% to 15% in 7 years.
In early July, Raj Kumar Singh, head of the country’s Ministry of Energy and Renewable Energy, declarationIndia was about to impose restrictions on green hydrogen trade in response to restrictions imposed by other countries.
Previously reportedHe said the heat wave in Asia has increased demand for coal, gas and fuel oil from Russia.