India is taking a look at constructing its first strategic pure gas reserves by utilizing outdated, depleted hydrocarbon wells to retailer the gas and hedge in opposition to world provide disruption, a senior government of the nation’s largest pure gas firm Gas Authority of India Limited (GAIL) mentioned on Friday.
The strategic services can be constructed in phases in India’s western and north-eastern areas with an preliminary capability to retailer three to 4 billion cubic meters (bcm) of gas, Sumit Kishore, an government director on the public sector GAIL, advised reporters at an trade occasion.
India has 5 million tonnes of strategic petroleum reserves however no storage services for pure gas. Indian firms collectively at present maintain two bcm of gas in pipelines and liquefied pure gas tanks for business use.
Kishore mentioned the primary strategic gas storage facility would take three to 4 years to build after authorities approval.
India goals to increase the share of pure gas in its vitality combine to 15% by 2030 from about 6.2% now. The nation consumes round 60 bcm gas yearly.
