Economy

Oil and gas sectors to see $118-billion investments: Pradhan

Our Bureau New Delhi | Updated on July 14, 2020 Published on July 14, 2020

Minister for Petroleum and Natural Gas Dharmendra Pradhan

India is going to see investments of over $118 billion 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 clean tech, 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.

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Published on July 14, 2020
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