PHDCCI organizes Gas-Based Economy Conference: Charting a Gas-Powered Future

NEW DELHI, Oct. 31, 2023 /PRNewswire/ -- PHD Chamber of Commerce and Industry, a leading apex chamber, hosted a momentous conference titled 'Gas-Based Economy: Shaping a Gas-Powered Future' in New Delhi today. Distinguished guests, eminent policymakers, and industry leaders convened to discuss and deliberate upon the pivotal role of natural gas in shaping India's energy landscape.

The Guest of Honour, Smt. Kanta Kardam, Member of Parliament and Member of the Parliamentary Standing Committee of Petroleum & Natural Gas, applauded the visionary policies of Prime Minister, designed to bring benefits to every corner of the nation, including the remotest rural areas. She specifically highlighted the Ujjwala gas scheme and emphasized the dedicated efforts to ensure its reach to every district, thus bringing its benefits to countless women throughout the country.

Smt. Kardam stated, "I am grateful to the PHDCCI for organizing this conference, which is very timely. The Ministry of Petroleum and Natural Gas has been at the forefront of a significant transformation in our country's energy sector during this period. The dedication and vision of our government have not only enhanced our energy security over the years but also laid the foundation for a cleaner, more sustainable energy future", she said.

Mr. A K Tiwari, Member of the Petroleum and Natural Gas Regulatory Board (PNGRB), delivered a compelling address highlighting the underutilization of LNG terminals, which, on average, operate at less than 40% of their capacity. He underlined the challenges faced by certain terminals, including insufficient gas tie-ups, inadequate pipelines, and unprepared tributaries. To address these issues, Mr. Tiwari stressed the necessity for a comprehensive and coordinated strategy.

He added, "We have set a target of 12 CGD rounds in the North Eastern region, Ladakh, and Andaman, and this year, a unified tariff has been introduced for remote areas and their consumers. Mr. Tiwari also encouraged PHDCCI to form a dedicated group to communicate these vital points to the concerned ministries and government authorities."

Shri Rajinder Kumar, Economic Advisor (IFD) at the Ministry of Petroleum & Natural Gas, Government of India, shed light on the significant milestones achieved in the last few years. From 2016 to March 2023, the government has provided an astounding 9.6 crore subsidized connections to economically challenged segments across the nation, surpassing the combined populations of Belgium and the UK, totaling 33 crore connections.

Highlighting India's remarkable economic performance on the global stage, Mr. Kumar referenced international GDP growth data. He compared India's growth rate of 7.8% to economies like the USA, China, the EU, and Germany, which stand at 2.4%, 6.3%, 0.5%, and -0.1%, respectively.

Furthermore, Mr. Kumar elaborated on various government policies, such as the National Biofuels Policy 2018, which has achieved its targets ahead of schedule, and the SATAT (Sustainable Alternative towards Affordable Transportation) initiative. He expressed confidence that these initiatives and policies will continue to drive sectoral growth and contribute to the nation's economic prosperity.

Mr. Rajeev Singhal, Chair of the Hydrocarbons Committee at PHDCCI and Executive Director (Business Development Exploration Prod.) at GAIL (India) Ltd., provided an industry perspective. He underscored the seven key elements of a gas-based economy, highlighting their positive implications for energy security, environmental sustainability, economic growth, infrastructure development, global collaboration, and challenges and their mitigation. Mr. Singhal emphasized that this transition holds immense potential for a sustainable and prosperous future.

Mr. Sandeep Jain, Co-Chair of the Hydrocarbons Committee at PHDCCI and Executive Director (Gas Business) at Indian Oil Corporation Limited, addressed the issue of gas consumption in the country. With approximately 46 to 50 million metric tonnes of gas consumption, of which 50% is domestically sourced, he emphasized the importance of diversifying gas sources while acknowledging the significance of addressing import dependencies.

Mr. Rajesh K Mediratta, Managing Director & CEO of Indian Gas Exchange Ltd., advocated for a mandate to convert public transportation to cleaner fuels, thereby driving demand for City Gas Distribution (CGD). He also stressed the need for proper utilization of gas-based power plants with the right policy and regulatory framework.

Mr. Kamal Kishore Chatiwal, Managing Director of Indraprastha Gas Ltd., shared insights into the remarkable growth of the CGD sector, which is currently expanding at a rate of 34-35 MMCMP. IGL was highlighted as a successful example within the CGD sector.

Mr. Pawan Tibrawalla, Co-Chair of the Hydrocarbons Committee, PHDCCI; CMD of Archit Buildcon Pvt. Ltd. highlighted the transformative potential of the shift toward a gas-based economy and the unique opportunities and challenges it presents to the industry, emphasizing the need for proactive engagement.

Mr. Abhinav Arora, Co-Chair Hydrocarbon Committee; AVP (Business Development), MMG Group share his perspective in the session - Role of Natural Gas in the Power Sector: Transitioning from Coal to Gas.

The session was moderated by Dr. Jatinder Singh, Assistant Secretary General, PHDCCI.

This conference marked a significant milestone in the journey toward a gas-powered future, underscoring the transformative potential of natural gas in India's energy sector.

About PHD Chamber of Commerce and Industry

PHD Chamber of Commerce and Industry, established in 1905, is a proactive National Apex Chamber working at the grass-root level and with strong national and international linkages. The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. PHD Chamber, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation.

PHD Chamber of Commerce and Industry (PHDCCI) is one of the Premier Chambers in India to have been accredited with "Diamond Grade" by NABET(QCI), at national and international level.

PHDCCI has its international office at Bahrain for 6 GCC countries, with 1,30,000 companies as its members base, with a total focus on the development of small and medium businesses. PHDCCI has co-opted National and International Industry Associations and Organisations through over 100 MoUs signed between the parties.

Please visit https://www.phdcci.in/

The  conference was sponsored by GAIL India Ltd. as its Principal Sponsor for the Conference, while the partners included HAL Offshore Ltd. and Trenchless.  IGX was the Exchange Partner and was supported by PHDCCI annual sponsors, DLF Ltd; Jindal Steel & Power; KLJ Group; Multani Pharmaceuticals Ltd; Marble City; MMG Group; Radico Khaitan Ltd;  Uflex Ltd; Vestige; Eazy ERP Technologies; JK Tyre & Industries Ltd; Sagar Group of Industries; Superior Industries Limited; Samsung India Electronics; Oswal Greentech; Apeejay Stya Group; Blossom Kochhar Beauty Products Pvt Ltd; DCM Shriram;  R E Rogers; Trident Group; Ajit Industries Pvt Ltd;  Bhagwati Plastic and Pipes Industries; Central Coalfields Ltd; DD Pharmaceutical Ltd.;  Hindware Sanitary; Jindal Steel;  Modern Automobiles;  P S BEDI & Co.