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.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
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%."
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.