India’s gas regulator to pitch for building gas storage

India should build storage for natural gas to boost the use of cleaner fuel in the country and hedge against global price volatility, Chairman of Petroleum and Natural Gas regulatory board A. K. Jain said on Monday.

“For market dynamics and supply assurance for the customers to shift to gas require gas storage,” Jain told reporters at an event.

India has 5 million tonnes of strategic petroleum reserves but no storage facilities for natural gas yet.

The country aims to raise the share of natural gas in its energy mix to 15% by 2030 from about 6.5% now.
Source: Reuters (Reporting by Yagnoseni Das in Bengaluru; Editing by Janane Venkatraman )