Union minister for petroleum and natural gas Hardeep Singh Puri on Friday said Energy has become the spinal cord for economic growth and development, and India is poised to lead the global hydrogen energy production and export.

Delivering keynote address, at the 6th South Asian Geoscience Conference and Exhibition, he highlighted the critical importance of energy in driving economic progress, especially in a country like India, where the demand for energy is increasing rapidly in line with its growing economy.

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“With projects like hydrogen blending in natural gas pipelines, localization of electrolyzer-based technologies, and the promotion of bio-pathways for green hydrogen production, India is set to become a global champion in hydrogen production and exports,” he said.

The minister mentioned that India’s energy demand continues to soar with daily consumption currently at 5.4 million barrels, projected to reach 7 million barrels by 2030. He highlighted that 67 million people visit petrol pumps every day in India. This surging demand is expected to drive 25 per cent of the global increase in energy consumption over the next two decades.

“India’s energy landscape is rapidly evolving, with the country boasting 651.8 million metric tons of recoverable crude oil reserves and 1,138.6 billion cubic meters of recoverable natural gas reserves within its sedimentary basins,” he said. Despite these abundant resources, a significant portion of India’s exploration potential remains untapped, he added.

Minister Puri further expressed optimism about India’s energy future, particularly in the field of green hydrogen. GEO India 2024 is India’s premier South Asian Geosciences Conference and Exhibition. It is expected to draw around 2,000 participants and feature over 20 conference sessions, 4 plenary discussions, 200+ technical papers, and 50+ exhibition booths.