Pradhan releases NE Hydrocarbon Vision-2030 to propose invest of Rs 1,30,000 crore

Pradhan releases NE Hydrocarbon Vision-2030 to propose invest of Rs 1,30,000 crore
Highlights

Union Petroleum and Natural Gas minister Dharmendra Pradhan on Tuesday had released the North East Hydrocarbon Vision-2030 in Guwahati.

Guwahati, February 9: Union Petroleum and Natural Gas minister Dharmendra Pradhan on Tuesday had released the North East Hydrocarbon Vision-2030 in Guwahati.

Under the vision, it is proposed to invest of Rs 1,30,000 crore for production hydrocarbon in the North East region for next 15 years.

Releasing the vision document, Pradhan said that the Petroleum and Natural gas ministry has consciously and constantly focused efforts towards making hydrocarbons a tool to enable social and economic development.

According to the Vision Document, it has proposed to invest Rs 80,000 crore in upstream, Rs 20,000 crore in midstream and Rs 30,000 crore in the lowerstream and it has been a focused and consultative exercise to develop a common and shared aspiration for benefiting people of the north east region.

With involvement and inputs of various stakeholders, industry players and state governments, the Vision document not only includes the ambition for the region but also an actionable roadmap. CRISIL Infrastructure Advisory has been the Knowledge Partner to develop this Vision report.

The objectives of the plan are to leverage the region’s hydrocarbon potential, enhance access to clean fuels, improve availability of petroleum products, facilitate economic development and to link common people to the economic activities in this sector.

The states covered include Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura. The Ministry also undertook series of consultations with the state governments while drafting the vision document.

The Vision rests on five pillars: People, Policy, Partnership, Projects and Production. For people, it foresees clean fuel access to households alongside fostering skill development and involvement of the local community.

The policy focus areas include moderation in light of specific terrain and weather conditions of the region coupled with ensuring fund planning for new projects. As for partnership, the stress is on greater involvement of state governments in planning and implementation, and on boosting trade with neighbouring countries.

In projects, the focus is on pipeline connectivity for carrying liquefied petroleum gas (LPG), natural gas, and petroleum products, oil and lubricants (POL); building refineries and import links; and development of compressed natural gas (CNG) highways and city gas distribution network.

The production side emphases include production enhancement contracts, technology deployment and fast-track clearance, and development of service provider hubs.

The Vision aims at doubling Oil & Gas production by 2030, making clean fuels accessible, fast tracking projects, generating employment opportunities and promoting cooperation with neighbouring countries.

Pradhan stressed upon a paradigm shift in production and utilization of hydrocarbons to catalyse growth in the North East region and to improving standard of living for the people, generating opportunities for the youth and creating a sustainable energy secure future.

“To achieve the Vision it would call for collaborative efforts of central and state governments with the determination to bring the developmental shift the people of North East deserve. This will be a concrete step towards realizing our Prime Minister’s vision to develop the North East India in a mission mode,” Pradhan said.

Under the vision document, it has been proposed to increase production by refineries from 7 metric tonnes per annum (MTPA) to 16 MTPA.

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