Prime Minister Narendra Modi inaugurated India’s biggest global hydrocarbon energy summit “Urja Sangam 2015” under the aegis of the Petroleum & Natural Gas ministry at Vigyan Bhavan in Delhi.
The summit aims at shaping India’s energy security by creating a new “Energy Security” platform and an investor-friendly atmosphere. On the global level, it aims to firm up cooperation agreements with key global players.
Urging all stakeholders to increase the domestic production of Oil and Gas to reduce import dependence from 77 % to 67% by the year 2022, Modi said, “Import dependence should be brought down to 50 % by the year 2030.”
He further said that the government is committed to expand its National gas grid network from its current length of 15,000 kms pipeline to 30,000 kms cross country gas pipeline to achieve equitable and balanced national growth.
This move would help connect Eastern states with the rest of the country which will boost industrial development.
The Prime Minister also emphasised on promotion of skill development in important trades. There are ample opportunities for innovation in the energy sector that need to be explored, he added.