Government releases Hydrocarbon Vision 2030 for North-East
Ministry of Petroleum & Natural Gas has released the Hydrocarbon Vision 2030 for north-east India, outlining steps to leverage the hydrocarbon sector for Socio-economic development of the north-east region. The states covered include Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.
Highlights of the Hydrocarbon Vision 2030
The objectives of the plan are to leverage the region’s hydrocarbon potential, enhance access to clean fuels, improve availability of petroleum products, facilitate economic development and to link common people to the economic activities in this sector.
The Vision Document which has been described as an “actionable road map" has been prepared by involvement and inputs of various stakeholders, industry players and state governments. It aims at developing common and shared aspiration for benefiting people of the north east region. The Vision rests on five pillars : People, Policy, Partnership, Projects and Production.
►People: It foresees clean fuel access to households alongside fostering skill development and involvement of the local community
►Policy: The policy focus areas include moderation in light of specific terrain and weather conditions of the region coupled with ensuring fund planning for new projects
►Partnership: The vision focuses on greater involvement of state governments in planning and implementation, and on boosting trade with neighbouring nations.
►Projects: Focus on pipeline connectivity for carrying liquefied petroleum gas (LPG), natural gas, and petroleum products, oil and lubricants (POL); building refineries and import links; and development of compressed natural gas (CNG) highways and city gas distribution network.
►Production: On production side emphases include production enhancement contracts, technology deployment and fast-track clearance, and development of service provider hubs.
Beyond production, the focus areas includes exploring hydrocarbon linkages and trade opportunities with neighbouring countries like Bangladesh, Myanmar, Nepal and Bhutan. implementation of ‘Make In India’ in the region; development of health & medical facilities; focus on skill development; and employment generation requirement in the region.
The Vision aims at doubling Oil & Gas production by 2030, making clean fuels accessible, fast tracking projects, generating employment opportunities and promoting cooperation with neighbouring countries.
Comment : India has a petrochemical industry with a turnover of $40 billion, but it accounts for only a small share of the $600 billion global petrochemical market dominated by China and the US so Hydrocarbon Vision 2030 offers immense scope for increasing domestic capacity for global consumption.
Currently India produces 223 million tonnes of petroleum products and 33 billion standard cubic metres of natural gas a year.The north-east region has a huge hydrocarbon resource potential. Hydrocarbon resources in the region accounts for about 20% of all India resources and over 50% of total onshore resources in the country.
|Country||Oil Reserve (billion barrels)|
|United Arab Emirates||97,800,000,000|