The Union Government is finalising the roadmap and outlay for the much anticipated Carbon Capture, Utilisation and Storage (CCUS) Mission, said Rajnath Ram, advisor for energy, natural resources and environment, Niti Aayog.
"We are working on finalising the mission roadmap. Discussions are also on to finalise the total outlay," Ram said at the 'Third Energy Summit of the Indo-American Chamber of Commerce' in New Delhi on August 26.
Carbon Capture, Utilization and Storage (CCUS) is a process that captures carbon dioxide (CO2) from industrial sources and power plants before it enters the atmosphere. The captured CO2 is then transported to be either utilized in various products like chemicals, building materials, or fuels, or permanently stored in underground geological formations, such as depleted oil and gas reservoirs or saline aquifers.
CCUS technologies aim to reduce greenhouse gas emissions, helping to mitigate climate change and achieve net-zero emission goals. CCUS is expected to be a key element of India's ambitious energy transition and net zero targets.
Also read: India expands key climate action body ahead of carbon market launch.
Ram also emphasized on the need for energy security and long term supply contracts of liquefied natural gas (LNG). He highlighted that as India aims to achieve the 15% composition of gas in the overall energy mix by 2030, the consumption of gas in the country needs to increase two to three times.
"If we want to achieve 15% of gas in our energy basket by 2030 consumption of gas needs to increase 2-3 times. It should reach something like 180-200 bcm (billion cubic metre) of gas consumption in our system," he said during a panel discussion.
In order to achieve that, the first and foremost thing is to have assured long term supply and how it can be achieved, Ram said, while stressing on the need for survey of geographical basins across the country to map the existing resources to reduce import dependence.
"Second, how we can ensure long term supplies and get it at an affordable price. Third, at the domestic front, we have to tie up at mass level for CBG (compressed biogas)," he added.
BC Tripathi, former chairman and managing director of GAIL said that although India has a large network of gas pipelines, they are running at about 50-55% of capacity. "The transport sector can be a major area of gas demand which would help in reducing the use of diesel and carbon emissions," he said.
Rajarshi Gupta, MD, ONGC Videsh Ltd said that varying and innovative models of gas sourcing are being discussed. "In ONGC we have decided that we will source about five million tonnes of LNG and that will be a combination of Henry Hub, crude based LNG and from multiple sources," he said, while adding that volatility is a certainty going forward and sources will also increase in days ahead.
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