PremiumHardeep Singh Puri said that the petroleum ministry has asked the OMCs to prepare the roadmap and once the companies submit their plan, the ministry would share it with the PMO
NEW DELHI : As the union cabinet has approved the National Green Hydrogen Mission last week, oil marketing companies are expected to submit their roadmap for the utilization of green hydrogen in their operations in the next 10 days, said the union minister for petroleum and natural gas, Hardeep Singh Puri.
Addressing the 11th CII Bio-Energy Summit here, the minister said that the petroleum ministry has asked the OMCs to the prepare the roadmap and once the the companies submit their plan, the ministry would share it with the Prime Ministers‘ Office.
Noting that the cost of green energy, which is used for the production of green hydrogen, is low in India, he said that the country has the potential to be the front runner in terms of green hydrogen production. He also said that the oil and gas sector will be the largest and the foremost sector to adopt the utilization of green hydrogen.
Oil refineries, fertilizer and steel producers are among the top sectors which are expected to use green hydrogen in their operations
The statement comes just over a week after the union cabinet approved the ₹19,744 crore National Green Hydrogen Mission, with an aim to produce 5 million tonnes by of green hydrogen annually by 2030. He noted that the mission was announced with a vision to make India a global hub for green hydrogen and green ammonia.
India is working with companies in countries like UK and Germany for the domestic manufacture of electrolysers to make deployment of Hydrogen as an energy source, affordable, he added.
Speaking on the requirement for government support to OMCs for the losses they have incurred amid high oil prices and stagnant petrol and diesel prices, the minister said that oil marketing companies have incurred huge losses and the ministry supports their demand for compensation.
“They are coming to us (for the compensation). Its under discussion. As a line minister I am supporting them," he said, adding that companies are still have under-recoveries in diesel despite the recent fall in crude oil prices. Last year, the government released ₹22,000 crore to OMCs for the losses they suffered in LPG sales amid high gas prices.
Under the current dynamic pricing policy, OMCs are required to revise retail fuel prices on a daily basis in line the 15-day average in global oil prices, however, prices have been unchanged since May as oil prices surged to multi-year high levels due to the Ukraine conflict.
Regarding the growth in terms of ethanol blending in the country, Puri said that India has increased the ethanol blending in petrol from 1.53% in 2013-14 to 10.17% in July 2022.
The minister said that setting up 2G refineries to make ethanol from Parali in Panipat and bamboo in Numaligarh, with the twin objective of reducing pollution along with achieving energy security goals is a milestone in the path of achieving ethanol adoption in the country.