Ministry of Petroleum and Natural gas Current Affairs - 2019

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PETROTECH -2019

Prime Minister Narendra Modi inaugurated the PETROTECH -2019 conference and called for responsible pricing of crude oil that balances interests of both producers and consumers highlighting the need to have universal assess to clean, the affordable and equitable supply of energy.

PETROTECH -2019 conference is a three-day mega event held from 10 to 12 February 2019. The conference was held at India Expo Centre, Greater Noida, Uttar Pradesh on 11th February 2019.

In the backdrop of changing global energy basket, PETROTECH-2019 offered an excellent opportunity to hydrocarbon industry, their associates and academia to interact and debate the latest advances in the hydrocarbon sector, which can be leveraged for meeting global energy requirements

Along with PETROTECH -2019 an exhibition over 13 country pavilions and around 750 exhibitors from over 40 countries, with exclusive areas on the Make in India and Renewable Energy theme was organised.

PETROTECH

PETROTECH conference is a biennial International Oil & Gas Conference. The conference provides a platform for national and international experts in the oil & gas industry to exchange views and share knowledge, expertise, and experiences.

The 13th edition of International Oil & Gas Conference and Exhibition, PETROTECH-2019 is being organized by Oil & Natural Gas Corporation Limited, under the aegis of Ministry of Petroleum and Natural Gas, Government of India.

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India becomes Second Largest LPG Consumer and Importer

India is now the second largest consumer and importer of the LPG in the world. This is attributed to government initiatives to push for cleaner alternatives to traditional cooking fuels such as firewood and cow dung.

Import of LPG

The import of LPG grew by 12.5 per cent over the past five years to 12 million metric tons (13 million tons) in 2018-19. India now stands at the second position when it comes to the import of LPG surpassing Japan. India is at second place behind China. The exporters of LPG to India include Saudi Arabia, Qatar, the United Arab Emirates, Kuwait and Iran.

Consumption of LPG

The number of active LPG consumers in India has grown at a compounded annual growth rate (CAGR) of 15 per cent – from 14.8 crore in 2014-15 to 22.4 crore in 2017-18.

Increase in population combined with LPG penetration in rural areas has resulted in an average growth of 8.4 per cent in LPG consumption, making India the second largest consumer of LPG in the world at 22.5 million tonnes.

The Ministry of Petroleum and Natural Gas estimates that LPG consumption would grow to 30.3 million tonnes by 2025 and 40.6 million tonnes by 2040.

The flagship scheme of the government Pradhan Mantri Ujjwala Yojana (PMUY) has made a significant contribution towards enhancing the penetration of LPG, especially in rural areas. The renewed targets under the Pradhan Mantri Ujjwala Yojana (PMUY) aims to provide LPG connections to 8 crore households before March 31, 2020.

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