Hydrocarbon Vision 2030 Current Affairs - 2020
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The Cabinet Committee on Economic Affairs has given its approval for the capacity expansion project of Numaligarh Refinery from 3 MMTPA (Million Metric Tonne Per Annum) to 9 MMTPA.
The expansion project involves setting up a crude oil pipeline from Paradip in Odisha to Numaligarh and product pipeline from Numaligarh to Siliguri in West Bengal. The expansion is expected to be completed by within a period of 48 months, after approval and receipt of statutory clearances.
Funding the Project
The estimated cost of the project is Rs. 22,594 crore. The Numaligarh Refinery will raise a debt of Rs.15,102 crore and would contribute Rs.2,307 crore from its internal accrual. The promoters of NRL, Bharat Petroleum Corporation Ltd, Oil India Ltd & Government of Assam (GoA) will contribute to equity and the government of India would provide a Viability Gap Funding of Rs.1,020 crore.
Numaligarh Refinery Limited (NRL)
Numaligarh Refinery Limited (NRL) was set up at Numaligarh in the district of Golaghat (Assam) in accordance with the provisions made in the historic Assam Accord. The NRL was conceived as a vehicle for speedy industrial and economic development of the region.
The promoters of the NRL are Bharat Petroleum Corporation Ltd, Oil India Ltd & Government of Assam (GoA).
The expansion of the NRL will aid in meeting the deficit of petroleum products in the North East and also sustain the operations of all North East refineries by augmenting their crude availability. Together with generating direct and indirect employment in Assam and it is the driver of Government’s Hydrocarbon Vision 2030 for the North East.
Tags: Assam • Assam Accord • Bharat Petroleum Corporation Ltd • Cabinet Committee on Economic Affairs • Hydrocarbon Vision 2030
Union Ministry of Petroleum and Natural gas (MoPNG) has released the Hydrocarbon Vision 2030 for north-east India.
The Hydrocarbon Vision 2030 outlines steps to leverage the hydrocarbon sector for social and economic development of the north-east region.
The states covered under it are Assam, Arunachal Pradesh, Meghalaya, Manipur, Nagaland, Sikkim, Mizoram and Tripura.
Key features of the Hydrocarbon Vision 2030
- Objective: To leverage the north-east region’s hydrocarbon potential, improve availability of petroleum products, enhance access to clean fuels, facilitate economic development and link common people to the economic activities in this sector.
- It lays out a detailed roadmap for the entire hydrocarbons value chain, covering all aspects of upstream, midstream and downstream segments of this sector.
- The Vision rests on five pillars of 5Ps People, Policy, Partnership, Projects and Production.
- People: Foresees accessibility of clean fuel to households in this region and also foster skill development and local community involvement.
- Policy: Focus on development of areas including moderation of specific terrain and weather conditions of the region along with fund planning for new projects.
- Partnership: Give stress on greater involvement of state governments from this region in planning and implementation and also boosting trade with neighbouring nations.
- Projects: Focus on pipeline connectivity for carrying natural gas, liquefied petroleum gas (LPG), petroleum products, oil and lubricants (POL).
- It will also include building refineries and import links and development of compressed natural gas (CNG) highways and city gas distribution network.
- Production: Give emphases for technology deployment, production enhancement contracts and fast-track clearance and also development of service provider hubs.
- The vision also focuses on other areas including exploring hydrocarbon linkages and trade opportunities with neighbouring countries like Bangladesh, Myanmar, Nepal and Bhutan.
- It also aims at doubling Oil and Gas production by 2030, fast tracking projects, generating employment opportunities and promoting cooperation with neighbouring countries.
Tags: Current Affairs 2016 • Government policy • Hydrocarbon Vision 2030 • Ministry of Petroleum and Natural gas • Northeast India