According to an official statement, the Prime Minister discussed in detail the reforms undertaken in the sector in the last 7 years, including:
- exploration and licensing policy
- gas marketing
- policies on coal bed methane
- coal gasification,and the recent reform in Indian Gas Exchange
Talking about exploration and production, Modi said the focus has shifted from 'revenue' to 'production' maximisation.
The Prime Minister also spoke about the need to enhance storage facilities for crude oil.
The interaction was attended by industry leaders from across the world, including Rosneft CEO Igor Sechin, Saudi Aramco CEO Amin Nasser, BP CEO Bernard Looney, Mukesh Ambani - Head of Reliance Industies and Vedanta boss Anil Agarwal.
Talking about the rapidly growing natural gas demand in the country, he said outlined the current and potential gas infrastructure development, including pipelines, city gas distribution and LNG
regasification terminals.
He further said India is a land of openness, optimism and opportunities and is brimming with new ideas, perspectives and innovation.
regasification terminals.
He further said India is a land of openness, optimism and opportunities and is brimming with new ideas, perspectives and innovation.
According to the Indian Brand Equity Foundation, India could see investments of around $500 billion in its new energy industry by 2028.
