He added, India is working to meet its growing energy demand
and is also reducing dependence on energy imports.
"We are planning to spend around Rs 7.5 lakh crore (Es 7.5 trillion) in creating oil and gas infrastructure over five years," said the Prime Minister.
Today, Indian oil and gas companies are present in 27 countries with investment worth about Rs 2.7 trillion. About 65.2 million tonnes of petroleum products have been exported. This number is expected to rise even further. "Our companies have ventured overseas in acquisition of quality oil and gas assets," he said.
Strong emphasis has been laid on the expansion of city gas distribution
networks by covering 470 districts, the PM said, adding that the government is aiming to increase the share of gas in the energy basket from 6.3 per cent currently to 15 per cent. He said the share of energy from renewable sources will be raised to 40 per cent by 2030.
Commenting on the projects that were inagurated today, the Prime Minister said they are important and relate to Aatmanirbharta in the energy sector.
CPCL's new Rs 31,500 crore refinery anticipates about 80 per cent indigenous sourcing of material and services. The refinery will boost development of transport facilities downstream, petrochemical industries, ancillary and small scale industries in the region.
The grassroot refinery with nine million tonnes per annum (MMTPA) capacity is to be set up at Nagapattinam by a JV between IndianOil and CPCL. This project will generate some 5 million man-days during the execution phase. The new refinery will produce MS and Diesel meeting BS-VI norms and Polypropylene as a value-added product. These projects would bring substantial socio-economic gains and will aid the development of transport and communication facilities, education facilities, downstream petrochemical industries, ancillary and small-scale industries.
The Ramanathapuram-Thoothukudi section (143 km) of the Ennore-Thiruvallur-Bengaluru-Puducherry-Nagapattinam-Madurai-Tuticorin Natural Gas pipeline
(ETBPNMTPL) has been laid at a cost of Rs 700 crore. It has generated 170,000 man-days of employment. The pipeline will use the gas from ONGC fields and deliver indigenous natural gas as feedstock to Southern Petrochemical Industries Corp Ltd (SPIC) at Tuticorin and other industrial/commercial customers and CGD GAs.
The pipeline will bring down the cost of production of fertilisers. It is part of a larger natural gas pipeline
project being developed at a cost of Rs 4,500 crore. "It will benefit several areas in South India", the PM said.
The Gasoline Desulfurisation unit at CPCL, Manali has been constructed for about Rs 500 crore, generating 18,000 man-days of employment. The unit will produce low sulphur (less than 8 ppm) environment-friendly gasoline, which will reduce emission and contribute towards a cleaner environment.