Atmanirbhar Bharat will ensure energy security says Dharmendra Pradhan

New Delhi, September 30: Speaking on PM Narendra Modi's initiative ‘Atmanirbhar Bharat’ Union Minister for Petroleum and Natural Gas and Steel, Dharmendra Pradhan on Tuesday said, "Atmanirbhar Bharat’ will drive our efforts in evolving a comprehensive energy security architecture in the country."

  

 

In his keynote address to the ‘GCTC Energy Security Conference 2020’ organized by Global Counter-Terrorism Council, he said that it will be marked by a continuity of robust energy policies put in place over the last six years, and a chance to address the COVID- 19 unleashed challenges.  He further has further encouraged us to strive for a synergistic approach across sectors to make India self-reliant in the energy sector and fulfill the vision of energy access, efficiency, sustainability, security, and affordability.

 

 

The Minister said “We are determined to build back better after COVID-19 to ensure that the energy system is secure, clean, resilient and responsive to our citizens’ needs. I am confident that, energy companies in India have powered through COVID-19 relatively intact, and look forward to a revival by embracing Atmanirbhar Bharat through innovation.”

 

 

Later on, he also said that in order to enhance the country's energy security, India has adopted a multi-pronged strategy that includes developing alternative fuels, enhancing domestic oil and gas production, demand substitution, and reduction through clean technology and green energy. He called upon the foreign companies to partner with the domestic companies in developing the 6.5 million metric ton capacity strategic crude oil reserves under-construction in Chandikhol in Odisha and Padur in Karnataka.

 

Pradhan said, "Our five-pronged strategy to reduce crude oil import dependency including increasing domestic oil and gas production, promoting biofuels and renewables, energy conservation and energy efficiency, improvement in refinery processes, and demand substitution, is making an impact." He also revealed that the country saved Rs 5000 Crore by taking the advantage of low crude oil prices in April and May 2020 to fill the existing strategic petroleum reserves

 

Pradhan also added that a major effort is underway to actualize Vocal for Local in the oil & gas industry. A major drive has been launched to increase localization of procurements of the oil & gas sector to promote Atmanirbhar Bharat. He said that We are encouraging OEMs to make India as their production base, give a boost to Start-Ups, and to make India integral to the global value chain of the oil & gas sector.

 

Pradhan further asserted that Our quest for energy security will work under the framework of four ‘A’s: availability, accessibility, affordability, and acceptability, which is to make energy accessible to all the sections and sectors at an affordable price.