The Minister of Petroleum & Natural Gas and Steel, Dharmendra Pradhan, on Wednesday, invited the US industry leaders to take advantage of the opportunities being created in the Indian energy sector. The minister said the gradual economic activity is picking up in India and energy consumption is anticipated to reach pre-Covid levels soon. He was participating at the USISPF 3rd Annual Leadership Summit on the theme of “Navigating New Challenges”.
Pradhan underlined the importance of energy infrastructure as a key to transformation in India. He also expressed his happiness at global oil & gas majors like BP, Shell, Total, Exxon Mobil expanding their footprints in India and invited US companies to take advantage of reforms in the exploration and production sector and participate in the next oil and gas block bidding rounds. He stressed on the importance of gas sector in the ‘Strategic Energy Partnership’ as India is working to transform itself into a gas-based economy by increasing the share of gas from 6% to 15% in the energy mix by 2030 with an estimated investment of $60 billion lined up in the sector, developing a “One Nation, One Gas Grid.”