Establishment of Gas Trading Hub(s)/Exchange(s) in India - Background Information
India has reached the decision and agreement to set up/establish the trading exchange/hub, This will allow trading of natural gas and supplied to the endpoints through the market-driven mechanism.
Grid for Natural Gas
- The Government's decision to develop the natural gas grid has agreed with the grant of 5176 crores (i.e. 40% of the estimated capital cost of Rs. 12,940 Crore) towards GAIL and asked for the establish 2655 Km long Gas pipeline, Jagdishpur-Haldia & Bokaro Dhamra Pipeline (JHBDPL) project.
- Transportation of Natural Gas to Industrial, commercial, domestic, and transport sectors in the state of Uttar Pradesh, Bihar, Jharkhand, Odisha, and West Bengal.
Integrated Refinery-cum-Petrochemical Complex
The oil Public Sector Undertaking (PSU), IOCL, BPCL, and HPCL came together to set up an integrated refinery-cum-petrochemical complex in the district of Ratnagiri, Maharashtra with a refining capacity of 60 MMTPA (Million Metric Tonnes Per Annum).
- This is in an effort for a market-based price regime, as a popular demand from the operators.
- Boost the share of natural gas in India’s energy mix to 15% (fifteen percent) by the year 2030, from just over 6% (six percent) as of now.
