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India’s Gas Regulator Proposes Establishing Natural Gas Storage Facilities
India aims to raise the share of natural gas in its energy mix to 15 per cent by 2030, from about 6.5 per cent now
Photo Credit : Reuters
India should build storage for natural gas to boost the use of cleaner fuel in the country and hedge against global price volatility, AK Jain, chairman of the Petroleum and Natural Gas Regulatory Board, said on Monday.
He said that India should have natural gas storage that allows suppliers to build stocks when prices are low which will also help meet higher demand from the industries.
"For market dynamics and supply assurance for the customers to shift to gas, (we) require gas storage," Jain told reporters at an event.
India has 5 million tonnes of strategic petroleum reserves but no storage facilities for natural gas yet.
The country aims to raise the share of natural gas in its energy mix to 15 per cent by 2030, from about 6.5 per cent now.