Status of energy sector in India highly uneven: PM
Prime Minister Narendra Modi said Monday that the status of the energy sector in India was highly uneven and the scope for reform in many areas still exists. At an interaction here with oil and gas CEOs and experts from across the world, he welcomed the suggestion made for a comprehensive energy policy, according to a PMO press release. Modi also welcomed all possibilities for innovation and research in the oil and gas sector, the release said, adding that he flagged the potential of biomass energy and invited participation and joint ventures in the coal gasification.
Top CEOs and officials from Rosneft, BP, Reliance, Saudi Aramco, Exxon Mobil, Royal Dutch Shell, Vedanta, Wood MacKenzie, IHS Markit, Schlumberger, Halliburton, Xcoal, ONGC, IndianOil, GAIL, Petronet LNG, Oil India, HPCL, Delonex Energy, NIPFP, International Gas Union, the World Bank, and International Energy Agency, were present at the meeting. Subjects such as the need for a unified energy policy, contract frameworks and arrangements, requirement of seismic data sets, encouragement for biofuels, improving gas supply, setting up of a gas hub, and regulatory issues came up for discussion, the statement said. Various participants appreciated the progress and reforms made in India in the last three years, it said.
Participants also appreciated the pace and drive with which the prime minister has brought about reform in the energy sector, it said. Many participants strongly recommended the inclusion of gas and electricity in the GST framework, the release said. The Prime Minister said that the status of the energy sector
in India was highly uneven. "He also said that scope for reform in many areas still exists," the release said. The prime minister thanked all participants for sharing holistic suggestions, keeping in mind India's unique potential and requirements in the oil and gas sector, instead of merely confining themselves to the concerns of their respective organisations. He stressed on the need to develop energy infrastructure and access to energy in eastern India.