Oil Minister Hardeep Singh Puri highlighted the success of India’s ethanol blending program, emphasizing substantial foreign exchange savings amounting to ₹78,118 crore between 2014 and 2023. Additionally, the initiative has contributed to a noteworthy reduction in CO2 emissions by 426 lakh metric tons and the replacement of 142 lakh metric tons of crude oil during this period. Puri also pointed out the growing adoption of E20, with more than 9300 retail outlets dispensing it, and ambitious plans for nationwide expansion by 2025.
As reported by ETEnerworld.com, the government is actively pursuing an initiative to elevate the share of natural gas in India’s primary energy mix from the existing 6.3% to 15% within the next 5-6 years, involving an estimated investment of around $67 billion. This strategic approach aims to boost gas consumption to over 500 MMSCMD by 2030, significantly surpassing the current level of approximately 155 MMSCMD.
Puri commented, “In the Ethanol Supply Year (ESY) 2022-23, approximately 509 crore litres of petrol were saved, resulting in more than ₹24,300 crore of foreign exchange savings and expeditious payment of about ₹19,300 crore to farmers, including net CO2 reduction of 108 lakh metric tons. India has been successful in promoting the Global Biofuels Alliance (GBA) as a pivotal path in the sustainability journey at COP 28 held in December 2023. GBA is also an important part of India’s agenda in the World Economic Forum scheduled in January 2024”.
