KEY POINTS
- India highlights $500 billion in energy investment potential.
- Oil, gas, refining, and LNG drive expansion plans.
- Trade deals add support for investor confidence.
India’s energy infrastructure offers investment opportunities worth up to $500 billion as the country pushes toward energy independence, Prime Minister Narendra Modi said on Tuesday.
Speaking at the India Energy Week conference, Modi told delegates that India is moving away from a narrow focus on energy security toward building self-sufficiency across production, infrastructure, and supply chains, according to Reuters. He said the scale of opportunity spans oil, gas, refining, and natural gas infrastructure as demand continues to rise in the world’s third-largest energy consumer.
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri attended the inaugural event alongside UAE Minister for Industry and Advanced Technology Sultan Al Jaber and Goa Chief Minister Pramod Sawant.
Reforms open exploration opportunities
Modi said India is on what he described as a reforms-driven path, with changes in legislation and regulations shaped by feedback from earlier editions of India Energy Week. He pointed to the Samudra Manthan Mission as a turning point for the upstream sector, noting that large areas previously restricted to exploration have been opened and no-go zones reduced.
According to Modi, the government aims to raise total investment in the oil and gas sector to $100 billion by the end of the decade and expand exploration acreage to one million square kilometres. More than 170 oil and gas blocks have already been awarded, while the Andaman and Nicobar basin is emerging as a new area of interest for hydrocarbon development.
Refining capacity and export strength
India’s refining capacity currently stands at about 260 million metric tonnes per annum, Modi said, with plans underway to increase capacity beyond 300 million metric tonnes per annum. He said the scale of domestic refining gives India a strong position in global fuel markets.
India ranks among the world’s top five exporters of petroleum products and supplies refined fuels to more than 150 countries, according to the prime minister. He said the country’s refining footprint provides a competitive advantage for investors seeking long-term exposure to downstream energy assets.
LNG infrastructure draws investor focus
On liquefied natural gas, Modi said growing domestic demand has opened opportunities across transportation and infrastructure. India is moving to build LNG carriers domestically and has launched a Rs 70,000 crore shipbuilding programme to support this effort.
He highlighted investment prospects in LNG terminals, regasification facilities, pipeline networks, and the expanding city gas distribution system. Modi said India has set a target for LNG to account for 15 percent of total energy demand and stressed the importance of strengthening the natural gas value chain.
Modi also referred to the free trade agreement signed with the European Union on Monday, calling it the “mother of all deals.” He said the agreement, which represents nearly 25 percent of global GDP and about one-third of global trade, will complement existing deals with Britain and the European Free Trade Association and support manufacturing, services, and investor confidence
