Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
State-run oil companies Oil India Ltd (OIL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL), among others, won licences to build gas infrastructure in the Northeastern states and Jammu and Kashmir, under the 12th city gas distribution (CGD) bidding round.
At an event where the letters of intent (LoI) were awarded to successful bidders, Minister of Petroleum and Natural Gas Hardeep Singh Puri announced that the government has decided to spend ₹41,000 crore on infrastructure development in six Northeastern states and two Union Territories, Jammu and Kashmir and Ladakh. The 12th CGD bidding round constituted 8 Geographical Areas (GAs) across 6 Northeast states - Arunachal Pradesh, Meghalaya, Manipur, Nagaland, Sikkim and Mizoram - and two Union Territories of Jammu & Kashmir and Ladakh. This round in totality covered 103 districts.
India will invest ₹41,000 crore to build infrastructure in the GAs awarded in the 12th round as a part of its strategy to boost natural gas consumption. The government has been pushing for increased natural gas consumption in the country to achieve net-zero emission targets by 2070. The government plans to increase the share of natural gas to 15% by 2030 in the country’s energy basket from the current 6.2%.
“Northeastern states and the UTs of Jammu & Kashmir and Ladakh have been under special focus of the government to push the economic growth in these regions. The envisaged natural gas infrastructure development in North-East states would also lead to better utilization of domestic gas locally in the region,” said Puri. He added that the government has set an objective to invest $67 billion in the natural gas sector in the next six years to provide natural gas to the end consumer at a stable price.
Anil Kumar Jain, Chairman of the Petroleum and Natural Gas Regulatory Body (PNGRB), said compressed natural gas (CNG) has much potential in the states covered under the 12th bidding round. Development of the North Eastern Gas Grid and Gurdaspur – Jammu Natural Gas Pipeline would play a vital role in the development of the natural gas network, he added.
In India, over 33,753 km of natural gas trunk pipelines are authorised, out of which around 24,623 km of pipeline are currently operational. Meanwhile, the 300 GAs authorised in the country cover 98% of the population and 88% of the area. Till date, 1.21 crore domestic piped natural gas (PNG) connections and 6,258 CNG stations have been established in the country.
Also Read : Hyundai Motor inks 174-MW RE deal for EV plant in US Vedanta Aluminium shifting to renewables rather adding coal capacity
Godawari Power & Ispat Gets PGCIL Nod for High-Tensile Steel Billets Godawari Power & Ispat...
Mid Corporate 03-Jul-2025
Vedanta Ltd, a mining giant, stated that production of aluminium, zinc, iron ore, and steel increase...
Large Corporate 04-Jul-2024
Canadian investor Brookfield Asset Management is planning to partially monetise its clean energy ass...
Large Corporate 01-Feb-2024
Waaree Energies Limited, India's biggest solar PV module manufacturer, has formed a significant agre...
Large Corporate 28-Feb-2024
In January, India's steel exports reached 0.9 million tonnes (MT), up 43% YoY and more than 30% mont...
Business 12-Feb-2024
Profits at China's industrial firms fell 2.3% in 2023, their second straight yearly decline, due to...
China 27-Jan-2024