PetroFed has signed a memorandum of understanding (MoU) with The Energy and Resources Institute (TERI) to undertake a detailed study on 'Climate Change Risks: Preparedness for Oil and Gas Sector'.
Minister of State of petroleum and natural gas Dharmendra Pradhan said the study will offer a missing link between the policy and practice in the hydrocarbon sector.
He added that as Cop 21 will soon come into effect, it is important for the country to know the effects of greenhouse gases and ways to control them.
India is a low per capita energy consumer but as the country is moving towards double-digit growth rate, its energy consumption is bound to increase. The government intends to focus on gas, renewable energy and bio-energy to meet its requirements.
The study will provide important inputs for future strategy on oil and gas infrastructure development.
It will also provide a comprehensive analysis of threats posed by climate change to oil and gas sector and shall provide a way forward to tackle the challenges posed by climate change.
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By GlobalDataThe study will suggest suitable measures for the oil and gas sector to achieve India’s INDC target of reducing the emission intensity of GDP by 33% to 35% below the levels in 2005 by 2030.
The study would further highlight how the global market and technological options are likely to change as a result of global climate policy measures, as well as how the 1.5 degree and two degree scenarios of global warming are likely to affect the infrastructure and operations in different climatic zones of India.
The share of gas in the Indian energy basket is 6.5% to 7%, while the world average is 24%.
India aspires to increase the share of gas to 15% in the next three to five years in order to have a new gas-based economy.
In the eastern part of India, a 2,500km long pipeline is being laid to provide the industry with gas and help in gas distribution within seven cities of the region.
