Greater Noida: India is poised to emerge as a global leader in the production and export of hydrogen energy, according to Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri.
Addressing attendees at the 6th South Asian Geoscience Conference and Exhibition, Puri highlighted India's strategic initiatives, including the integration of hydrogen into natural gas pipelines, the localization of electrolyzer technologies, and the promotion of bio-based pathways for the production of green hydrogen. These efforts position India as a frontrunner in the global hydrogen industry.
Puri further noted that India is on the cusp of becoming a central hub for green hydrogen, which is regarded as the fuel of the future.
The demand for energy in India continues to escalate, with daily consumption currently standing at 5.4 million barrels, projected to increase to 7 million barrels by 2030.
He pointed out that 67 million individuals visit petrol stations daily, a statistic that is equivalent to the combined populations of the UK, France, and Italy.
Puri underscored India's significant growth in fuel demand, which is three times the global average. Over the next two decades, it is anticipated that 25 percent of the global increase in energy demand will be met by India.
In addressing the trilemma of availability, affordability, and sustainability, Puri highlighted India's success in balancing these elements. He reaffirmed India's steadfast commitment to energy security, underpinned by robust exploration and production activities.
Despite being the third-largest consumer of crude oil globally, India's exploration sector remains largely untapped. The country possesses 651.8 million metric tons of recoverable crude oil reserves and 1138.6 billion cubic meters of recoverable natural gas reserves within its sedimentary basins, which require further exploration.
Until 2014, only 6 percent of the sedimentary basin area was under exploration. Presently, 10 percent of these basins are being explored, with plans to increase this to 16 percent by 2025, following the upcoming awards under the Open Acreage Licensing Policy (OALP) rounds.
"Our objective is to expand India's exploration acreage to 1 million square kilometers by 2030," Puri stated.
The Geoscience India 2024 conference is anticipated to attract approximately 2,000 participants and feature over 20 conference sessions, 4 plenary discussions, 200+ technical papers, and 50+ exhibition booths. Puri expressed optimism for the emergence of innovative solutions to address the energy needs of the nation.
"I have unwavering confidence in the innovative capabilities of geoscientists to spearhead an energy revolution in India, ensuring energy security for all citizens and addressing future challenges," he concluded.
