Hydrocarbon chain needs $600 billion investment by 2030: Assocham

Hydrocarbon chain needs $600 billion investment by 2030: Assocham

5:07 PM, 22nd July 2011
Hydrocarbon chain needs $600 billion investment by 2030: Assocham
D S Rawat, Secretary General, Assocham.

NEW DELHI, INDIA: A report released in India said, the country would need investments of about $600 billion across various segments of the hydrocarbon chain by 2030 to take care of its energy requirements, according to industry chamber, Assocham. The investments would be required to increase energy supply and improve infrastructure for its distribution, it added.

“Being one of the largest energy consumers in the world, India will need investments worth $600 billion in the next two decades across various segments of hydrocarbon chain,” said Assocham. The demand for coal, oil & natural gas, the major energy sources, is increasing on a daily. Oil & gas consumption is growing at a compound annual growth rate of 6.5 per cent and equals over 195-mt of oil equivalent, it said.

“The country’s GDP is expected to grow by over 9 per cent in coming years, which is likely to pump energy consumption and the efforts to reduce demand-supply gap in oil and gas provide significant opportunities in the upstream segment,” said D S Rawat, Secretary General, Assocham.

Though the country has surplus of installed refining capacity of 185-mtpa, the report mentioned, companies are aggressively upgrading their capacities to produce Euro IV and Euro V compliant fuels, which can be exported to the US and Europe.

“India stands a fairly good chance to emerge as a global refining hub as many refineries in developed countries are likely to shut down over the next few years due to environmental pressures,” added Rawat.

(C) WOC News

 

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