India will see $100 billion investment in energy sector: Minister

Union Minister of Petroleum & Natural Gas Dharmendra Pradhan has said India will see a massive $100 billion investment in creating oil and gas infrastructure over the next five years.

He said this while speaking at KPMG’s Enrich 2019 conference. According to the Minister, India will chart its own course of energy transition in a responsible manner even as it is said to be a key driver of global energy demand in the coming decades.

He added: “India will see an investment of $100 billion by 2024 in oil refining, pipelines, city gas distribution networks, and LNG terminals.”

Pradhan said that of this, $60 billion will flow into the creation of gas infrastructures such as pipelines, city gas networks, and import terminals.

He added that the country wants more foreign investment inflow into upstream oil and gas exploration and production as well as downstream fuel marketing and petrochemicals.

Image Credit : iamWire.com

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