A natural gas grid is being set up for transporting the fuel across the nation as it's 30% cheaper than liquefied petroleum gas sold in cylinders, said Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas. He said costs would further reduce by 2026-27.
"We were able to control the gas prices by putting in a base and a ceiling... now I think by 2026-27 you will have so much gas that it will become much cheaper for everyone, including our consumers," Puri said at the NDTV Infrashakti Awards.
He said the number of natural gas users has grown five times since 2014. Currently, India has 1.25 crore piped gas users.
The minister said, "If you consume 5-6 million barrels, then you can play the buyer or the market card due to the demand."
Puri said the transition to green energy is vital to India's infrastructure growth. "Biofuel transition is growing in a massive way with the biofuel transition at 15% (of overall fuel consumption). The government has a target... (of) 20%."
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