India’s push for cleaner fuels will not just trigger an electric car boom. It will also drive consumption of natural gas as the nation weans car owners away from polluting fuels like petrol and diesel, among the largest contributors to Asia’s third-largest economy’s import bill.
Gas will offer cheaper mileage, especially after the stricter Bharat Stage VI emission standards are rolled out in April 2020. Investors are betting on the potential growth.
Demand from industries is expected to rise after the Supreme Court banned the use petcoke and fuel oil in Rajasthan, Uttar Pradesh and Haryana, in addition to the existing curbs in Delhi. Highly polluting Petcoke is a key fuel for cement makers. The ban is expected to boost gas demand further. Petroleum and Natural Gas Regulatory Board has been mandated by the government to expand the gas grid and improve city distribution network by inviting bids from interested developers. The board identified 223 areas and will invite bids through multiple rounds.
NITI Aayog has drafted a plan to expand the network in 326 cities by 2022 from existing 87 regions.That would throw up new opportunities for gas distributors.
Messe Frankfurt’s NGV India Summit remains the leading and the only summit in India focused on the natural gas vehicle industry attracting delegates from across the country and around the world. In addition to providing a highly anticipated forum for sharing information, gaining valuable project updates and learning about new advances in the world of natural gas vehicles, it also presents a high value place to meet and do business.