Oil and gas sectors to see $118bn investments
20 July 2020
India is going to see investments of over USD 118bn across the oil and gas value chain in the next few years, according to Minister for Petroleum and Natural Gas Dharmendra Pradhan.
Speaking at a roundtable on India-US Energy Cooperation, organised on the eve of the 2nd Ministerial meeting of the India-US Strategic Energy Partnership, Pradhan said, “There are several opportunities coming up in the Indian energy landscape, especially in biofuels, LNG terminals, LNG bunkering, expansion of CGD network and other natural gas infrastructure and in oil and gas exploration.”
In a series of tweets, Pradhan said that energy infrastructure is a key component in transforming India as a global manufacturing hub of the 21st century and achieving the goal of self-reliance.
He also welcomed American companies to collaborate with Indian firms to facilitate tie-ups in innovative initiatives around cleantech, waste-to-energy, and solar.
He said there has been growth in bilateral hydrocarbon trade between India and the US during the last three years and the trend is expected to continue.