India’s push towards becoming a global leader in hydrogen production and exports was highlighted by Hardeep Singh Puri, the Union Minister for Petroleum and Natural Gas.
At the 6th South Asian Geoscience Conference and Exhibition, he outlined India’s ambitious plans which include hydrogen blending in natural gas pipelines and the localization of electrolyzer technologies. These initiatives are set to position India as a key player in the green hydrogen sector, which is seen as the energy of the future.
India’s growing demand for energy is noteworthy, with current consumption at 5.4 million barrels daily and projections suggesting it will reach 7 million barrels by 2030. Puri emphasized that 67 million people visit fuel stations daily, a figure comparable to the populations of the UK, France, and Italy combined. India’s fuel demand growth rate is three times the global average, and it is expected to account for 25 percent of the increase in global energy demand over the next twenty years.
Puri discussed India’s adept balancing of energy availability, affordability, and sustainability. The nation remains committed to energy security, bolstered by proactive exploration and production activities. Despite being a major consumer of crude oil, India’s exploration sector remains largely unexplored. With massive reserves of recoverable crude oil and natural gas, India is working towards tapping into these resources.
Until 2014, only a small fraction of India’s sedimentary basin area was under exploration. However, exploration has increased and will continue to expand with forthcoming awards under the Open Acreage Licensing Policy (OALP) rounds. Puri stated that the aim is to reach 1 million square kilometers of exploration acreage by 2030.
