Indian Oil Corporation Ltd (IOCL) is in the process of developing LPG from bio mass and would succeed in another two to three years, a senior official in the R and D wing of IOCL said on Friday.
This is being done in tune with the decision of World LPG Association to have at least 50 per cent of LPG from bio mass, including vegetable waste, by 2040, S S V Ramkumar said.
Accordingly, the country has taken a lead and in the process of developing the LPG from bio mass, which would bear fruit in another two to three years, he told reporters on the sidelines of a two-day IOCL National LPG Conclave 2020.
IOCL wanted at least 10 per cent of LPG to be produced from bio mass and put in use, as this would be cost- effective, he said.
Earlier, addressing the conclave, Ramkumar said the the demand for cooking LPG has reached a saturation-level in the country and there was the need to find out the areas where the LPG can be utilised, like in autos.
Chennai Petroleum Corporation Ltd managing director S N Pandey, in his address, said the demand for kerosene had come down of late due to availability of alternate fuels.
Kerosene would not be used after 2040, he said.Ratnagiri Refineries and Petrochemicals Ltd chairman B Ashok said there were opportunities for expansion the area of LPG, a sector which was growing by three to four per cent.