Reliance gets govt nod for additional investment to raise KG-D6 gas output
Reliance and its partner bp Plc currently produce around 30 mmscmd or about 30 per cent of India's gas production, from the KG-D6 block.
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Reliance and its partner bp Plc currently produce around 30 mmscmd or about 30 per cent of India's gas production, from the KG-D6 block.
Reliance Industries Ltd and bp Plc approved for additional investments in KG-D6 gas reserves, aiming for a 4-5 million cubic meters daily production increase. The recent focus on gas production is evident in their strategies.
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The share of imports in Indias total natural gas requirement has come down from 58% in 2019 to around 44% at present. With this, the crude oil and liquefied natural gas import bill has also fallen 22.5%. If things go according to plan, the share of natural gas in Indias energy basket will more than double to 15% by 2030.
When it comes to carbon capture utilisation and storage (CCUS), Reliance Industries Limited (RIL), with its extensive energy and petrochemicals interests, has much to weigh up in terms of business efficiency and future sustainability.